These four energy types will enable the efficient integration of 80% or more renewable energy by 2040. The ‘Flexibility Solutions for High-Renewable Energy Systems’ reports model a number of alternative scenarios for future power systems in the UK and Germany.
Energy storage and smart electric vehicle charging provide flexibility by moving large volumes of renewable energy to periods of high demand, or moving demand to periods of high renewable generation. Dispatchable demand response reduces the need for fossil-fired backup plants in the power system, reducing emissions. Interconnecting to Nordic hydro can address periods of both excess supply and excess demand, providing different benefits over the decades as the needs of the system evolve.
“There is now little doubt that renewable energy will be the dominant force in the power sector for decades to come. The next challenge is to make sure these sources are complemented by clean forms of flexibility – storage, demand and interconnection – to deliver cheaper, deeper decarbonization,” said Albert Cheung, head of global analysis at BloombergNEF.
“The relentless advance of solar and wind energy technologies are driving us inexorably towards an electricity system dominated by variable renewable power generation. Combined with the expected growth in electric mobility, we are now in the midst of an energy transition which will massively lower carbon emissions and improve air quality. However, this opportunity will be limited unless energy markets are designed and regulated in a way that unlocks the full value of flexibility in the electric system. The time is already upon us to prepare and start investing in the technologies, services, and modifications that can enable our energy system to cope with the dramatic shift in how we generate and use electricity,” said Cyrille Brisson, vice president of sales and marketing at Eaton in Europe .
“For Statkraft, as the largest generator of renewable energy in Europe, it is interesting to see that Nordic hydropower reservoirs can play an important role for decarbonization of the European power systems, together