Friday, 17 November 2017
These findings reported here are part of an economic study ‘Beyond the tipping point: flexibility gaps in future high-renewable energy systems in the UK, Germany and the Nordics’ released by Bloomberg New Energy Finance (BNEF).
The report predicts that renewable energy will account for over half of electricity generation by the mid-2020s in the UK and Germany. This comes as the cost of generating energy from wind and solar is expected, by 2040, to drop by more than half of today’s levels.
According to the report, this rapid growth in renewables will lead to much greater volatility in the power system, challenging inflexible ‘baseload’ generators and creating opportunities for new flexible sources. Due t...