Global power grids for harnessing world renewable energy

The Global Grid advocates the connection of all regional power systems into one electricity transmission system spanning the whole globe. Power systems are currently forming larger and larger interconnections. Environmental awareness and increased electricity consumption leads more investments towards renewable energy sources, abundant in remote locations (off-shore or in deserts). The Global Grid will facilitate the transmission of this “green” electricity to load centers, serving as backbone.
This chapter elaborates on the concept presenting four stages that could gradually lead to the development of a globally interconnected power network. Quantitative analyses are carried out for all stages, demonstrating that a Global Grid is both technically feasible and economically competitive. Real price data from Europe and the USA are used to identify the potential of intercontinental electricity trade, showing that substantial profits can be generated through such interconnections.