New analysis from Aurora Energy Research predicts around 13GW of flexible and distributed generation assets set to be deployed through to 2030. The fledgling market for batteries and other forms of flexible power generation is set for rapid expansion over the coming decade, according to a new analysis from Aurora Energy Research.
Business Green 12th Oct 2018 read more »
More than £6bn will need to be invested in the UK’s energy storage market by 2030 if the nation is to decarbonise at the rate necessary to meet legally-binding carbon targets. That is a key conclusion of new research from energy market analyst Aurora Energy Research, which found that 13GW of additional storage and flexible generation assets is needed by 2030 to balance the grid as more renewable projects come online. Specifically, Aurora predicts that the National Grid’s balancing and storage market will double in size to reach around £2bn by 2030. Commenting on the publication of Aurora’s research, renewables firm Anesco’s executive chairman Steve Shine said: “There has been a visible shift in the way [storage] technologies are being regarded and what may once have been seen as a high-risk investment, is now considered a strategic long-term investment, that has benefits across many levels.” By 2030, investment in renewable energy across Europe is set to grow as EU Member States aim for green electricity to account for 27% of the bloc’s energy mix. Bloomberg New Energy Finance (BNEF) has predicted that renewable energy sources will account for around three-quarters of the expected $10trn global investment into power generating technologies between now and 2040. However, experts have consistently warned that the intermittency of wind and solar energy will create wildly varying outputs from renewable energy generation in the UK by 2040, hence the need for energy storage solutions.
Edie 12th Oct 2018 read more »
The EU is planning to allow state aid for electric battery research and will offer billions of euros of co-funding to companies willing to build giant battery factories. Brussels is concerned that the EU auto industry, which employs 13m people, could be left behind in the race to build mass market electric vehicles because of their reliance on batteries from Asia. Carlos Ghosn, chief executive of Renault-Nissan-Mitsubishi said at the Paris Motor Show that the industry “cannot continue to prosper” unless it builds its own capacity. “We know very clearly that the future is electric and we simply have to catch up with this (battery) technology,” said Maros Sefcovic, energy vice-president at the European Commission. “You cannot develop new models or high-quality cars if you do not master the skills, the innovation, and research link with batteries.” Roughly 80 per cent of the world’s existing and planned battery production capacity is in Asia, according to Bloomberg data. China alone has 69 per cent, with the US at 15 per cent and the EU at under 4 per cent.
FT 15th Oct 2018 read more »