"Renewable Energy Paradigm Shift from Cost to Value" - Redefining Energy by "Engineering with Rosie"
image credit: Credit: Rosie Barnes
- Apr 21, 2021 10:34 am GMTApr 21, 2021 10:21 am GMT
- 210 views
Engineering with Rosie - Youtube
"Chapter one took 20 years but you know, cost: we won that victory... So now we need to work on value."
Solar and wind power are now the lowest-cost new power generation in the world. But even though you might get the lowest cost of energy by installing a lot of solar panels, they'll generate electricity at the exact same time as all the neighbouring solar panels... which makes electricity prices low.
Clearly the cost of energy isn't the whole story, we need to think about value.
It will involve technologies like energy storage and interconnectors. But smart markets and smart regulators are what's needed to get the most out of these technologies.
Renewable energy finance experts Laurent Segalen and Gerard Reid (from the Redefining Energy podcast) explain the renewable energy transition we need to make from cost to value. In the interview we talk about LCOE, how intermittent renewables affect the grid and power prices, wholesale price vs capture price with increasing amounts of solar, the famous duck curve, value adjusted LCOE and finally how it all comes down to trust.
"Actually, if you want to decarbonise, what we have to do is we need to have smart regulators. There's just no way around this."