2020-09-29
http://w3.windfair.net/wind-energy/news/35233-cornwall-insight-forecast-renewables-technology-gw-capacity-costs-wind-solar-low-zero-carbon-interconnection-wholesale-power-price

How to Keep Pace with 2050 Net Zero Targets

Image: PixabayImage: Pixabay
The large-scale deployment of very low/zero marginal cost wind and solar technologies, as well as increasing interconnection in the 2020s, is likely to have a depressive impact on wholesale power prices out to 2030.

Official Press Release Cornwall Insight:

Forecasts show 46 GW increase of renewables technology capacity required by 2030

Wind Industry Profile of
Forecasts show 46 GW increase of renewables technology capacity required by 2030

Forecasts from Cornwall Insight’s ‘Benchmark power curve’ suggests that up to ~46GW of new build renewable technology ? ~11GW onshore wind, ~10GW solar and ~25GW offshore wind ? may need to be developed by 2030 to keep pace with 2050 net zero targets.

This large-scale deployment of very low/zero marginal cost wind and solar technologies, as well as increasing interconnection in the 2020s, is likely to have a depressive impact on wholesale power prices out to 2030. Further modelling also shows that with an increase in high intermittent generation levels, it is likely the market will see a corresponding rise in price volatility. The volatility in the power price in 2019 was valued at £13/MWh*, but between 2020-24 modelling suggests an increase in volatility in... ... More: Official Press Release Cornwall Insight

Keywords:
Cornwall Insight, forecast, renewables, technology, GW, capacity, costs, wind, solar, low, zero, carbon, interconnection, wholesale power price







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