Capacity Remuneration: Advancing the Spread of Renewables [In My View

Abstract

The European Green Deal, setting the decarbonization strategy of the European Union (EU) for the period to 2050, envisages a 50−55% reduction in greenhouse gas emissions with respect to 1990 levels by 2030 and carbon neutrality by 2050. This ambitious pathway requires a much greater penetration of renewables in the energy system. The current 32% renewable penetration target for final energy consumption set for 2030 only two years ago is, therefore, likely to be increased to 38−40%. The electricity sector typically contributes more than proportionately to the achievement of the overall target. This means that we can expect renewable-based generation to represent approximately two-thirds of final electricity consumption by 2030, up from roughly 30% in 2019.