EU: Total cost of smart grid system development is 80 billion euros

The European Commission’s draft energy infrastructure development strategy shows that by 2020, the European Union’s electricity system will need 80 billion euros for upgrading, and natural gas systems will have an upgrade cost of 50 billion euros. In addition, the pipeline system should also be improved.

The document shows that "the power network will be upgraded through digital communications and intelligent measurements."

In addition, the pipeline system also needs improvement and should receive financial support, but the EU has not allocated funds. The document provides a comprehensive assessment of how the EU should develop energy infrastructure.

Energy infrastructure is crucial for EU energy security and creating a more environmentally friendly economic environment, because modernization will ensure the rational use of resources and integrate renewable energy in a wider network.

According to this document, it is estimated that by 2020, the proportion of electricity generated by renewable energy will be about 16%, and by 2030 it will further increase to 20%.

In addition, natural gas is also very important because fuel can be used as a reserve resource for renewable energy. For this reason, the document emphasizes the need to invest in more flexible networks, storage rooms, and LNG.