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The Power of Transformation – Wind, Sun and the Economics of Flexible Power Systems Executive Summary

The Power of Transformation – Wind, Sun and the Economics of Flexible Power Systems Executive Summary

Full Title:  The Power of Transformation - Wind, Sun and the Economics of Flexible Power Systems Executive Summary
Author(s): N/A
Publisher(s): International Energy Agency
Publication Date: February 1, 2014
Full Text: Download Resource
Description (excerpt):

 

Wind power and solar photovoltaic (PV) are expected to make a substantial contribution to a more secure and sustainable energy system. However, electricity generation from both technologies is constrained by the varying availability of wind and sunshine. This can make it challenging to maintain the necessary balance of electricity supply and consumption at all times. Consequently, the cost- effective integration of variable renewable energy (VRE) has become a pressing challenge for the energy sector.

Based on a thorough assessment of flexibility options currently available for VRE integration, a major finding of this publication is that large shares of VRE (up to 45% in annual generation) can be integrated without significantly increasing power system costs in the long run. However, cost-effective integration calls for a system-wide transformation. Moreover, each country may need to deal with different circumstances in achieving such a transformation.

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