PowerTechnology | More renewable technology required

Research from our market and asset-level power price modelling service ‘Benchmark power curve’, predicting 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 was featured in PowerTechnology today.

The net zero target is defining the shape of the future power market in terms of absolute value and volatility. This is certainly true in the period to the 2030s before we see material changes in power demand from widespread electrification in heat and transport.

We have been given a glimpse of what the future may hold during the Covid-19 lockdown. High renewable generation, caused by low demand over lockdown, created up to 15% discount rates for solar and wind technologies against average day-ahead prices over April and May 2020.

James Brabben, Wholesale Manager