In a 2023 survey conducted among energy sector leaders and investors based in the European Union and United Kingdom, 57 percent of respondents reported that the need for greater capacity and shorter connection lead times as a primary driver for global grid modernization. In comparison, 50 percent of the respondents identified the integration of utility-scale energy storage as another influential factor in grid modernization.
Factors driving the demand for grid modernization according to energy sector executives and investors based in the European Union and United Kingdom in 2023**
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Factors driving the demand for grid modernization according to energy sector executives and investors based in the European Union and United Kingdom in 2023**
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Responses from C-suite executives, legal counsel, and business, operations, and project managers.
Method of interview
Online survey
Supplementary notes
Survey participants encompassed firms and investors interested in renewable energy, oil and gas, utilities, mining, electric vehicles (EVs), and nuclear.
**The original question posed in the survey was as follows, "What factors are driving demand for grid modernization?"
Figures exceed 100 percent as respondents could select more than one answer.
The number of respondents was calculated by Statista based on the figures provided by the source.
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Womble Bond Dickinson. (November 14, 2023). Factors driving the demand for grid modernization according to energy sector executives and investors based in the European Union and United Kingdom in 2023** [Graph]. In Statista. Retrieved January 08, 2025, from https://www.statista.com/statistics/1434336/factors-driving-demand-grid-modernization-europe/
Womble Bond Dickinson. "Factors driving the demand for grid modernization according to energy sector executives and investors based in the European Union and United Kingdom in 2023**." Chart. November 14, 2023. Statista. Accessed January 08, 2025. https://www.statista.com/statistics/1434336/factors-driving-demand-grid-modernization-europe/
Womble Bond Dickinson. (2023). Factors driving the demand for grid modernization according to energy sector executives and investors based in the European Union and United Kingdom in 2023**. Statista. Statista Inc.. Accessed: January 08, 2025. https://www.statista.com/statistics/1434336/factors-driving-demand-grid-modernization-europe/
Womble Bond Dickinson. "Factors Driving The Demand for Grid Modernization According to Energy Sector Executives and Investors Based in The European Union and United Kingdom in 2023**." Statista, Statista Inc., 14 Nov 2023, https://www.statista.com/statistics/1434336/factors-driving-demand-grid-modernization-europe/
Womble Bond Dickinson, Factors driving the demand for grid modernization according to energy sector executives and investors based in the European Union and United Kingdom in 2023** Statista, https://www.statista.com/statistics/1434336/factors-driving-demand-grid-modernization-europe/ (last visited January 08, 2025)
Factors driving the demand for grid modernization according to energy sector executives and investors based in the European Union and United Kingdom in 2023** [Graph], Womble Bond Dickinson, November 14, 2023. [Online]. Available: https://www.statista.com/statistics/1434336/factors-driving-demand-grid-modernization-europe/
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