Renewables are doing well, supplying over 35% of the EUs electricity, with that expectedto rise to 57 % by 2030. Continued expansion beyond that looks likely, in the EU and elsewhere- some say to near 100% of power, or even of all energy, is possible by 2050. However, as renewables spread, the existing energy market trading system may no longer be helpful. Globally and regionally it was dominated in the past by coal, then oil and more recently gas, physical commodities, shifted by rail, tanker, truck or (for the fluids) by pipe, with control over access to these resources having major geopolitical implications. Electricity has also been traded nationally, and increasingly regionally e.g. around the EU, and, with renewables expanding, that trade could grow. In part that is because renewable resources are very different from fossil resources. The latter are concentrated in a few geographical locations, the former are more dispersed and so, often, is power generation, with smaller local units. The energy outputs are also often variable, so that there will be an incentive for power trading by grid between areas where there are surpluses and those where are current lulls.
Renew Extra 15th Feb 2020 read more »