Trade body Regen is calling on the government to double the capacity for Pot One technologies in the next Contracts for Difference (CfD) auction to 10GW. This ask was detailed in a letter sent to energy secretary Kwasi Kwarteng on the back of reports that Prime Minister Boris Johnson is committing the UK to a zero carbon power system by 2035. The CfD auction is an opportunity to hedge against rising power prices, Regen said, with generators paying back to the public purse when prices are high, directly reducing electricity bills, in return for revenue stability.
Current 6th Oct 2021 read more »
Regen is calling on the government to double the capacity for Pot One technologies from 5GW to 10GW in the next Contracts for Difference (CfD) auction. The trade body outlined the ask in a letter sent to energy secretary Kwasi Kwarteng following reports that Prime Minister Boris Johnson is committing the UK to a zero carbon power system by 2035. Regen’s analysis suggests there are plenty of renewables projects in the pipeline eligible to compete for CfDs, with 10GW of onshore wind and solar with planning permission and a further 9GW in the planning system. There is then another 20GW in the wider pipeline of projects that have secured a grid connection.
Solar Power Portal 6th Oct 2021 read more »
The technology group Wärtsilä has issued a report ahead of COP26. The ‘Front-Loading Net Zero’ report states that electricity production costs could be reduced by up to 50% by 2050 if countries and states adopt 100% renewable systems faster than currently planned. Significant cost reductions can be achieved by front-loading the deployment of renewables, mainly wind and solar photovoltaic, and by utilising the technologies needed to balance their inherent intermittency, such as energy storage and thermal balancing power plants. The report indicates that carbon neutral systems can provide cheaper electricity compared to current fossil fuel-based systems. The report models Germany, India, and California, US, three markets with vastly different socio-economic dynamics, energy systems, and challenges, demonstrating the cost-optimal path towards 100% renewable power systems in each region. The report reveals that by accelerating 100% renewable power systems, substantial benefits are unlocked. Sushil Purohit, President, Wärtsilä Energy and EVP, Wärtsilä adds: “There is no single solution that fits all markets, and this report highlights the different paths and technologies that can be utilised. The ultimate aim, however, is common to all and that is to decarbonise energy production and take the fullest advantage of our natural energy sources.” “This valuable report from Wärtsilä shows very clearly what can be achieved by moving away from conventional fuels towards 100% renewable energy. Reducing electricity cost and CO2 emissions in parallel generates CO2 reduction benefits. The technologies available today offer the flexibility and rapid reaction time needed to balance renewables,” said Christian Breyer, Professor at the LUT University.
Energy Global 6th Oct 2021 read more »