Prysmian Group | Energy transition - White paper 2021 7 | The role of power grids in enabling the energy transition A net-zero energy system Decarbonising the energy systemmeans usingmore electricity tomeet our energy needs – including for transportation and the heating and cooling of buildings. Demand for electricity will increase as we switch away fromusing fossil fuels. For example, electrifying the transport sector alone –which nowmostly relies on oil – could double global electricity demand, according to the outlook of the International Energy Agency. Similar projections hold for electrifying heat in our buildings. Fit for 55 The EU has committed to cut greenhouse gas emission by 55%compared to 1990 by 2030, a key milestone in reaching climate neutrality in 2050. The European Commission’s analysis shows that renewables-based electrification, complemented with the indirect electrification of hard-to-abate sectors, is themost cost-effective and energy efficient way to cut energy sector emissions to net-zero by 2050. The European Commission’s scenarios show that more than three quarters of the final energy demand will be electrified. Electricity will directly cover 57%of final energy uses while providing another 18% indirectly through hydrogen and its derivatives. According to the Commission’s scenarios, this will require the electricity system to grow to 6,800 TWh from less than 3,000 TWh today. And it will require wind to be 50% of the EU’s electricity mix, with renewables representing 81%. Fortunately, over the past decade, it has become more economical to invest in newwind and solar power sources than building new, or operating existing, fossil fuel power plants. Yet, the necessary condition for a complete transition to renewables is a strong and interconnected grid. of final energy Electricity will directly cover 57% THE EUROPEAN COMMISSION’S SCENARIOS indirectly through hydrogen and its derivatives 18% H 2 of the EU’s electricitymix wind to be 50% renewables 81%
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