Energy prices across Europe remain high and volatile with no signs of slowing down. But placing the power to change in consumers’ hands could help alleviate the pressure, says Johan Söderbom from EIT InnoEnergy
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We face a fundamental change of the cost structure on the supply side and a need for a fundamental change.
They [the European Commission] are looking at this stuff backwards. I still think they are convinced the short-term market model could work even though they are also starting to realise that you need something parallel, with long term price signals that give investors confidence to invest in infrastructure and allow them to see a decent market return.
Despite tremendous cost decline of wind and solar technologies, electricity prices will probably remain too low to attract the level of investment needed.
The greatest barrier to overcome is the integration of variable renewables into electricity systems. This will require developing power system flexibility and also a friendly deployment of variable renewables.
Finance for development initiatives in emerging markets is intrinsically tied to climate change—from new roads and energy infrastructure to transportation and new buildings. Yet despite the billions of dollars in overseas development assistance funding, the promised $100 billion of new and additional climate finance by 2020 has failed to materialise
This week, Yamina Saheb, lead author for the IPCC, joins the team to discuss whether a shift in mindset can help accelerate the energy transition
On Watt Matters this week, Monica Morawiecka from the Regulatory Assistance Project and Julian Popov, a fellow of the European Climate Foundation, discuss what is required to make eastern Europe's energy transition a reality
Europe can cut Russian gas imports by 66% by delivering the EU’s Fit for 55 package and speeding up the deployment of renewable electricity generation, energy efficiency and electrification. To achieve this lawmakers must increase clean energy ambitions, provide clarity on financial resources, prioritise energy efficiency and remove any incentives that extend gas consumption.
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The EU must pull out all the stops in renewables deployment and manufacturing in Europe for it to regain energy sovereignty following Russia’s invasion of Ukraine. To support this, it must mandate solar rooftops, solar on the built environment and maximise PV self-consumption. Greater power system flexibility should be provided and set a smart balance between direct electrification and green hydrogen production.
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Texas could replace almost all of its coal output with wind and solar already in the interconnection queue. Installing 72 of the 108 wind projects in the queue and 42 of the 262 solar projects would replace most of the coal generation on the state’s ERCOT grid. This high level of displacement is the result of the complementary timing of solar and wind generation. A dependable power supply from these assets still depends on sufficient transmission, other resources operating reliably and flexibly, and all resources being weatherised.
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