THE INCREASING AFFORDABILITY OF NEW ENERGY

IEA: Expanding wind and solar power does not mean additional costs; Transformation of power systems is needed to guarantee long-term flexibility, offering huge advantage for emerging economies

Will Nichols, 28 February 2014 (Business Green)

…[The Power of Transformation from the International Energy Agency (IEA) concludes any] country can integrate high levels of wind and solar power into their national energy grids at ‘little additional long-term cost’ if the network is sufficiently flexible…[C]ountries seeking to source 30 per cent of their power from renewables would see total system costs increase by no more than $6 per megawatt hour – or about seven per cent – above a zero renewables scenario…A higher share of 45 per cent, comprised of 15 per cent solar and 30 per cent onshore wind, would increase system costs by $11/MWh, which equates to somewhere between a 10 per cent and 15 per cent increase in system costs…[T]he key to incorporating high levels of wind and solar is to use renewable energy to support the grid, while investing in additional flexible generating capacity, such as hydro and modern gas plants, and improving the overall operation of electricity market…” click here for more

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