IEA urges proactive measures to integrate renewables
Sep 18, 2024 11:17 CESTAbout EUR 150 billion (USD 171bn) need to be invested over 15 years in 200 transmission and storage projects of pan-European significance, in line with plans to cut emissions by up to 80% and integrate 45% to 60% renewables by 2030.
The European Network of Transmission System Operators for Electricity (ENTSO-E) says so in the 2016 edition of its 10-year network development plan (TYNDP). It was released today for public consultation.
The rising levels of renewable energy output remain the key driver for grid reinforcement. Europe’s generation fleet will experience a significant shift in the next decade with the replacement of much of the existing power generation capacities, probably located differently and further from load centres, and involving high renewables development. Local solutions, demand response and storage will play a key role, but still new transmission grids will be needed to bring large volumes of renewables from the peripheries to the consumption centres, explained Konstantin Staschus, ENTSO-E Secretary-General.
"150 billion euros over fifteen years may seem like a lot of money but it actually amounts to only a 1% increase of the total consumer bill," Staschus said. The TYNDP 2016 shows that the needed investment adds between EUR 1.5 and EUR 2 per MWh of power consumption in Europe over the 15-year period.
At the same time, the market integration will reduce bulk power prices by EUR 1.5 to EUR 5 per MWh, depending on fuel and CO2 cost assumptions in different scenarios. The integration will also result in about 40% avoided congestion-hours across all borders in the most conservative scenario.
The investments proposed in the plan are expected to help avoid 30 TWh to 90 TWh renewable power spillage globally, reducing it to less than 1% of the total supply.
ENTSO-E said it is already working on the TYNDP 2018.
(EUR 1 = USD 1.138)
IEA urges proactive measures to integrate renewables
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