Batteries will beat natural gas peakers on cost across Europe by the end of the decade, according to new research from Wood Mackenzie.
Europe's power system will look very different in 2030, with energy storage supporting the “dominance” of wind and solar generation, according to new research from Wood Mackenzie.
The big five European markets — Germany, the U.K., France, Italy and Spain — will get the majority of their power from wind, solar and other variable renewable energy sources as early as 2023, WoodMac says. By 2040, Europe is expected to add another 169 gigawatts of wind and 172 gigawatts of solar.
As that variable output surges, Europe has four options for balancing out its grid: pumped hydro, gas peakers, energy storage and interconnectors. Only the final three of the quartet are likely to be the focus of new investment.
For now, “gas peakers are more essential than ever,” said Rory McCarthy, Wood Mackenzie principal analyst. “They can ramp up to full output from warm in a couple of minutes for modern systems, have increasing efficiency levels at part loading and boast unlimited duration, assuming a reliable gas supply.”
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