Abstract
The transition to low-carbon electricity is crucial for meeting global climate goals. However, given the uneven spatial distribution and temporal variability of renewable resources, balancing the supply and demand of electricity will be challenging when relying on close to 100% shares of renewable energy. Here, we use an electricity planning model with hourly supply-demand projections and high-resolution renewable resource maps, to examine whether transcontinental power pools reliably meet the growing global demand for renewable electricity and reduce the system cost. If all suitable sites for renewable energy are available for development, transcontinental trade in electricity reduces the annual system cost of electricity in 2050 by 5-52% across six transcontinental power pools compared to no electricity trade. Under land constraints, if only the global top 10% of suitable renewable energy sites are available, then without international trade, renewables are unable to meet 12% of global demand in 2050. Introducing transcontinental power pools with the same land constraints, however, enables renewables to meet 100% of future electricity demand, while also reducing costs by up to 23% across power pools. Our results highlight the benefits of expanding regional transmission networks in highly decarbonized but land-constrained future electricity systems.