Advancing global power pools can unlock low-carbon electricity potential
Based on Yang, H., Deshmukh, R., & Suh, S. Global transcontinental power pools for low-carbon electricity. Nature Communications 14, 8350 (2023).
Creating transcontinental power pools that connect electricity grids across continents can enable renewables to meet 100% of future electricity demand.
The Policy Problem
Achieving global decarbonization goals demands an efficient and equitable transition to low-carbon electricity. However, renewable energy resources like solar and wind are unevenly distributed across regions and vary temporally, creating significant challenges for matching supply and demand. Most electricity systems operate within isolated regional or national boundaries, which exacerbates inefficiencies, increases reliance on fossil fuels during renewable downtimes, and raises overall system costs. Transcontinental power pools are a solution to these challenges. By interconnecting electricity grids across continents, renewable energy-rich regions can supply power to high-demand areas, reducing curtailment, stabilizing supply, and lowering costs. Addressing these limitations through transcontinental power pools is critical for creating a low-carbon future that is both efficient and resilient.
Key Findings and Proposed Solutions
• Transcontinental electricity trade can reduce global carbon emissions by up to 25%.
• Connecting renewable-rich regions (e.g, solar in deserts, wind in coastal areas) with energy-demand centers can stabilize supply and reduce costs.
• Investments in global power pools deliver long-term savings compared to fossil-based energy systems.
• Develop international agreements to foster transcontinental grid connections.
• Invest in infrastructure for renewable energy integration and grid stability.
• Use multilateral funding to reduce the economic burden on low-income countries.