In January 2022, the US energy department announced an initiative to improve the power grid with $20 billion in funding. But JP Morgan doesn’t expect that to dramatically improve the situation for renewables in the near future. According to the report, the US is not projected to add more HVDC lines before 2026. By contrast, India is projected to increase its transmission capacity eightfold in the same time period, from 19,087 km to 165,635 km.

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