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illuminem summarizes for you the essential news of the day. Read the full piece on Bloomberg or enjoy below:
🗞️ Driving the news: As the planet warms, power grids worldwide are failing. Recent outages in Montenegro, Houston, and Mexico highlight the increased vulnerability of electricity networks to climate change
🔭 The context: The rise in temperatures has led to spikes in demand for cooling, while aging infrastructure struggles to keep up
• Climate-induced events like heatwaves, floods, and storms exacerbate the strain on power systems globally
🌍 Why it matters for the planet: Reliable electricity is crucial for modern life and economic stability
• Without significant upgrades and investments in renewable energy, achieving climate goals and maintaining energy security will be challenging
⏭️ What's next: Countries must invest trillions in grid upgrades to meet net-zero targets by 2050
• Future strategies include creating more resilient grids and possibly implementing "super-supergrids" for enhanced connectivity
💬 One quote: “The whole power system was built and designed in one climatic era and now is being asked to work in a different climatic era.” - Michael Webber, University of Texas at Austin
📈 One stat: Expanding the grid to meet net-zero goals will require about $24.1 trillion by 2050
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