In less than a decade, solar power will be economic in comparison to local fossil fuels globally, while wind will be economic in more than half of cases.
Global demand for electricity is predicted to rise by 4.5% in 2021 – equivalent to 1,000TWh – following heavy reductions as a result of COVID-19.
Electricity demand in Great Britain returned to pre-COVID-19 levels in Q1 2021, with tight margins being a common feature of the quarter.
Great Britain’s grid hit the greenest it has ever been on Monday 5 April at 1pm, with carbon intensity dropping to 39gCO2/kWh.
Over 260GW of renewable energy capacity was added worldwide in 2020, beating the previous record set in 2019 by almost 50%.
National Grid ESO has launched the second phase of its Power Available (PA) project in a bid to support a smarter, more flexible energy system.
Wind and solar have driven a record fall in global coal generation in 2020, although this was heavily impacted by the low electricity demand caused by COVID-19.
This week once again saw tight margins in Britain’s electricity network, as winds dropped off and temperatures remained low, causing day ahead prices to hit a high of £499.92/MWh in N2EX.
Net zero could provide a £350 billion investment opportunity for the energy sector, releasing untapped private capital.