6 Enabling the Digital and Energy transition How interconnection can support DECARBONIZATION According to the US Energy Information Administration’s "International Energy Outlook 2021," global energy demand will rise 50% between 2020 and 2050, pushing the sector’s annual CO2 emissions up by 24.7%. Renewable energy will make up a far larger part of the total global power mix by 2050, growing 3.3% per year, but fossil fuels will remain in use. How can this be balanced with carbon reduction ambitions? Global carbon dioxide emissions need to be reduced by 45% by 2030 from 2010 levels and reach net-zero emissions by 2050 in order to reach the goals set out in the Paris Agreement. The energy sector has a vital role toplay in this. In2021, global energy-related CO2 emissions remained at 31.5 Gt, which contributed to CO2 reaching its highest ever average annual atmospheric concentration. When looking at energy sector CO2 production in different countries, we see that carbon emissions of energy imports are not considered in the same way as those of locally produced power. An Aurora Energy Research study specifies that electricity imports are net-zero “only when supplied by renewables and nuclear sources, or when the grid emission factor of the exporting country is near zero during the time of exports.” Carbon emissions of imports can vary significantly depending on their source. If sustainable energy is exchanged as efficiently as possible, however, this will have a marked effect on decarbonization. One key challenge related to renewable energy sources, such as solar and wind, is the variability of yield. This can vary enormously from season to season and even day to day. Through smart transmission, interconnection neighbouring regions can mitigate this by importing and exporting power. Interconnection of power networks can significantly support decarbonization by harnessing and sharing large decarbonization of renewable energy. +3.3% Renewable energy expected growth per year
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