Abstract
The future energy system will change significantly within the next years as a result of the following Mega Trends: de-carbonization, urbanization, fast technology development, individualization, glocalization (globalization and localization) and changing demographics. Increasing fluctuating renewable production will change the role of non-renewable generation. Distributed energy from renewables and micro generation will change the direction of the energy flow in the electricity grids. Production will not follow demand but demand has to follow production. This future system is enabled by the fast technical development of information and communication technologies which will be present in the entire system. In this paper the results of a comprehensive analysis with different scenarios is summarized. Tools were used like the analysis of policy trends in the European countries, modelling of the European power grid, modelling of the European power markets and the analysis of technology developments with cost reduction potentials. With these tools the interaction of the main actors in the energy markets like conventional generation and renewable generation, grid transport, electricity storage including new storage options from E-Mobility, Power to Gas, Compressed Air Energy storage and demand side management were considered. The potential application of technologies and investments in new energy technologies were analyzed within existing frameworks and markets as well as new business models in new markets with different frameworks. In the paper the over all trend of this analysis is presented by describing a potential future energy world. This world represents only one of numerous options with comparable characteristics.
Highlights
The future energy system will change significantly within the years as a result of the following Mega Trends: de-carbonization, urbanization, fast technology development, individualization, glocalization and changing demographics
Production will not follow demand but demand has to follow production. This future system is enabled by the fast technical development of information and communication technologies which will be present in the entire system
Future energy world change continues to be driven by Mega Trends which started to become increasingly important at the beginning of the 21st century:
Summary
Due to already measurable effects and impact of climate change the need for change is accepted world wide. One reason is that for each tonne less of CO2 emitted there is a related reduction in cost. Costs related to each tonne of CO2 emitted are reflected by high CO2 certificates and CO2 taxes. Due to the relatively low variable costs of the renewable generation the spread of power price is flattened during hours of high wind or solar production and price peaks occur in hours with low renewable production. The flattened price curves during days with high renewable production and peak prices when there is low power production from renewables creates an incentive to invest in storage, demand side management or grid infrastructure until sufficient flexibility is available in the market
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
