At COP29, nations including the United States, United Kingdom, United Arab Emirates, Brazil, and Saudi Arabia announced their commitment to expand global energy storage capacity sixfold by 2030, reaching 1,500 Gigawatts, and to develop or refurbish 80 million kilometers of electricity grids by 2040.
This ambitious pledge builds upon the commitments made at COP28, where 133 countries vowed to triple renewable energy capacity and double energy efficiency rates by 2030.
Jennifer Layke, Global Director of Energy at the World Resources Institute (WRI), hailed the declaration as a pivotal step in prioritizing energy storage and grid modernization. “Energy storage and the power grid are essential to the clean energy transition, but for too long have not been center-stage,” Layke said. She emphasized the need for countries to integrate these goals into their Nationally Determined Contributions (NDCs), energy policies, and investment plans to translate the commitment into actionable results.
A key strategy highlighted by Layke involves repurposing electric vehicle (EV) batteries for “second life” applications. With the anticipated surge in EV adoption, governments and corporations could establish markets to collect and redeploy end-of-life EV batteries for renewable energy storage, reducing waste while bolstering storage capacity.
Modernizing grid infrastructure is another essential aspect of the clean energy shift. Layke pointed out that upgrading grids to minimize energy losses and ensure equitable access to electricity for remote and underserved communities is vital. This focus on efficiency and inclusivity will be instrumental in creating a clean, resilient, and secure energy system that benefits all populations. “As populations sprawl, governments also need to ensure that the electric grid can reach remote and historically underserved communities so they can benefit as much as those in urban centers,” Layke said.
The commitments made at COP29 represent a significant milestone in global efforts to address climate change and transition to a sustainable energy economy. However, turning pledges into tangible progress will require coordinated policies, innovative solutions, and robust investments in the years ahead.
Source: World Resources Institute
Featured image credit: jcomp | Freepik
