The investment firm co-founded by former Vice President Al Gore said Wednesday that modernizing the electric grid is the critical issue for moving the United States and other countries away from fossil fuels.
The world’s transmission grids built around power plants that run on coal and natural gas aren’t prepared to integrate large amounts of wind and solar power, according to Generation Investment Management’s 2024 sustainability report.
“Red tape” has made it harder to bring more renewable energy onto electric grids, the report said, along with disagreements over who pays for grid upgrades.
“We are thus seeing the growth of waiting lists across the developed world as renewable energy developers request grid connections — and are told to go to the back of the queue,” the report said. “Waiting times now stretch for years in some locations.”
