IEA report finds investment in smart grids needs to more than double through 2030

According tothe latest report release by InternationalEnergy Agency (IEA), investment in electricity grids saw a significantrise of 6% in 2021, with developed countries increasing their investments tofacilitate and encourage the use of electricity for buildings, industries, andtransportation, as well as to accommodate the variability of renewable energysources in the power system. Even though there has been some economic recoveryfollowing the disruption caused by the Covid-19 pandemic, there is still a needto more than double the investment in smart grids by 2030 to align with the NetZero Emissions by 2050 Scenario. This is particularly crucial for emergingmarkets and developing economies.