In the first of a series of four articles covering the expanding market for electrical interconnections in Europe, Jean-Baptiste Vaujour at the Emlyon Business School sets the scene by presenting the main points and current developments around the difficulties of building and financing these assets. Interconnectors allow power to be sent across borders to meet the shortfall where supply is not meeting demand. For example, European electricity … [Read more...]
Another good year for Renewables. But can we triple Wind and Solar by 2030?
COP28 saw a calling for a tripling of renewable capacities by 2030, off the back of positive signs. In 2022, 80% of incremental power demand and 12% of electricity generated worldwide came from solar and wind. And the IEA believes solar generation can grow at 25% to 2030. But, as Ramnath Iyer at IEEFA explains, specific challenges must be met to ramp up successfully. The non-financial barriers include a lack of policy clarity, permitting, and … [Read more...]
EU Energy Outlook to 2060: power prices and revenues predicted for wind, solar, gas, hydrogen + more
Huangluolun Zhou, Elena Dahlem and Alex Schmitt at Energy Brainpool present their updated “EU Energy Outlook 2060”, modelling how the European energy system will undergo major changes in the coming decades while continuing to guarantee a secure supply and meet its climate targets. What do these developments mean for power prices, revenue potential and risks for solar PV and wind? The two main scenarios are “Central” and “GoHydrogen” for the EU 27 … [Read more...]
Investing billions in new cross-border Electricity Transmission capacity can cover its costs within a few years
The huge divergence of electricity prices between nations after the energy crises of 2021 and 2022 exposed Europe’s pressing need to increase cross-border transmission capacity, explain George Dimopoulos, Conall Heussaff and Georg Zachmann at Bruegel. Without it, generation costs will be higher, emissions too, and new generation will continue to be badly congested. The author’s calculations reveal that one additional MW of cross-border capacity … [Read more...]
New Solar study: 50% of global power by 2050, even without more ambitious climate policies
Nadia Ameli at UCL and Femke Nijsse and Jean-Francois Mercure at the University of Exeter present their study that shows solar is on track to make up more than half of global electricity generation by 2050, even without more ambitious climate policies. This far exceeds any previous estimates: last year’s IEA World Energy Outlook predicted that solar would account for only 25% by 2050. The authors’ macroeconomic model takes the latest … [Read more...]
China can learn from the EU about power market design and infrastructure build-out
How will China integrate its growing Variable Renewable Energy generation and create a nationwide energy system that avoids the risks of curtailment, stranded assets and blackouts? A good place to start is to learn from Europe. Helen Farrell at ECECP summarises their report that uses the European experience to model scenarios for China. China’s key challenges is that its power market lacks an effective auxiliary service market, a capacity market, … [Read more...]
CBAM is now active. A guide to what companies must do to comply
On October 1st 2023 the Carbon Border Adjustment Mechanism (CBAM) became effective. Its purpose is to limit carbon leakage by establishing a carbon price on imported goods that is equivalent to the carbon price on domestically produced goods. That means introducing a set of reporting and compliance obligations for importers of goods into the EU. Simon Göss and Hendrik Schuldt at carboneer explain the new mechanism and scope (aluminium, cement, … [Read more...]
1,500GW of Renewables deployment delayed globally because Grids aren’t modernising fast enough
A first-of-its-kind global country-by-country study, “Electricity Grids and Secure Energy Transitions” by the IEA finds that electricity grids are not keeping pace with the rapid growth of clean energy technologies. Without greater policy attention and investment, shortfalls in the reach and quality of grid infrastructure puts at risk our climate goals. Worldwide, we need to add or replace 80m kms of power lines by 2040 – an amount equal to the … [Read more...]
EU states agree deal on electricity market to protect consumers from price volatility, boost cheap renewable power
On Tuesday EU member states finally agreed on how to reform the bloc's electricity market after long months of difficult negotiations. The introduction of long-term contracts, particularly contracts for difference (CfDs), should stabilise prices for consumers and give certainty to investors in new generation. But the big concern had been how the state support implicit in CfDs might be used to bias the playing field in favour of nuclear and coal, … [Read more...]
Make EV batteries bidirectional, get GWs of storage for the Grid
How to cope with the hourly, daily and seasonal variation in demand as regions electrify more, depend more on variable renewables like wind and solar, and cut baseload fossil generation? Storage shifts load nicely. But why build grid-scale batteries when millions of little batteries in our EVs are sitting idle in our driveways for most of the time? As Mark Specht at the Union of Concerned Scientists explains, it’s why in California a bill is … [Read more...]
Belgium: commercially viable Rooftop Solar for social housing. No installation subsidies, lower bills
Rooftop solar is becoming a key component of the roll-out of clean energy. But whereas the decision to install is straightforward for homeowners, how do tenants in social housing blocks take advantage of the subsidies and lower electricity prices? Sven Van Elst at ASTER and Maarten Michielssens at Energy Vision, writing for WEF, describe their project that is installing rooftop solar, free, for 52,500 social rental homes in Flanders, Belgium. No … [Read more...]
Concrete supercapacitor: works like a battery, much cheaper, easy to make
Capacitors work like batteries. They store and discharge electricity. David Chandler at MIT explains how researchers there have designed a supercapacitor from concrete and carbon black, two cheap and common materials. The beauty of the idea is that they can be incorporated into building foundations, thus installing a battery virtually for free. A concrete capacitor cube 3.5m wide can store 10kwh, enough for a household. Similarly, concrete … [Read more...]
U.S. Inflation Reduction Act: one year on, a summary of impressive progress in the energy transition
The U.S. Inflation Reduction Act has been described as unprecedented in its ambition for the nation’s energy transition. One year on from the passing of the bill in August 2022, Hannah Perkins and Adam Aston at RMI describe the progress on implementation as unprecedented too. The authors break their review down into categories: clean tech manufacturing, electrifying transport, greening buildings, decarbonising electricity, transforming industry, … [Read more...]
Electricity Market Design – creating the stimulus for competitive Offshore Wind within the internal energy market
Ahead of the upcoming discussion in Brussels (September 18, 15:00, Polish Embassy REGISTER HERE) on how to stimulate renewable investment, see below for a reminder of what was discussed at our conference before the summer. This time around, following an open address by Wanda Buk, VP Regulatory Affairs at PGE, PGE Baltica's CEO, Arkadiusz SeksciĹ„ski will be joined by Thor-Sten Vertmann, Electricity Market Design (EMD) expert within Ms Kadri … [Read more...]
Rooftop Solar for industry: up to 35% of U.S. manufacturing sectors could supply all their own power
Rooftop solar could supply the complete electricity needs of 5-35% of U.S. manufacturing sectors, explains Matthew Eckelman at Northeastern University who summarises his co-authored paper “Technical feasibility of powering U.S. manufacturing with rooftop solar PV”. At present, only 0.1% of industrial electricity demand in the U.S. is supplied by on-site sources of renewable energy. But large, unobstructed industrial rooftops and the declining … [Read more...]
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