In Ireland, Germany and the United Kingdom, the share of wind and solar in total generation will exceed 25% over the next five years. Come 2050, the International Energy Agency (IEA) expects that by 2050 up to 32% of electricity generated will be variable, putting greater stress on reliability.
Falling costs for renewables and energy storage will squeeze out gas-fired generation in South Australia as early as 2025, Wood Mackenzie and GTM Research find. By then, wind, solar and battery costs are seen decline by 15%, 25% and 50% respectively – hence they offer a “lower cost alternative” to CCGTs, which cover the bulk of South Australia’s base load power today.
Plans by the Scottish Government to reduce carbon intensity from 271 grams of CO2 per kilowatt hour to 50g CO2/kwh by 2030 may be achievable without the use of CCS technology, according to a new study from research consultancy DNV-GL.
UK-based research firm Highview Power Storage and GE Oil & Gas have announced a licencing and technology collaboration agreement to develop large-scale liquid air energy storage (LAES) systems. The technology is “ideally suited” for gas-fired peaker power plants, according to GE who struck the partnership to explore opportunities to improve operations of existing plants through the addition of energy storage.
The UK’s grid operator, National Grid, has reported a record level of power generated by wind-based renewables. Output from wind turbines rose above 6GW for the first time on Friday and is expected to rise further this week as strong winds hit the country, with power producers already halting 7.8GW of gas-fired output to compensate.
The successful deployment of carbon capture and storage technologies (CCS) in power generation will be crucial to achieving the UK's climate change goal of an 80 percent reduction in emissions by 2050, says a new report from Carbon Connect. "Electricity supply will likely need to rise significantly by 2050, and decarbonising the power sector beyond 2030 without CCS would be expensive and politically challenging," the report reads.
GE is betting on a 25-year super-cycle of natural gas generation, underpinned by cheap shale gas supply, hence the company heavily invests to increase this side of the business, says Paul Browning, President and CEO of Thermal Products, GE Power & Water.