Renewable energy resource development is accelerating around the globe as the push to reduce carbon emissions continues to gain momentum.
The Energy Information Administration (EIA) estimates that:
- • Wind and photovoltaic (PV) energy capacity will double from 1226 GW to approximately 2349 GW by 2025.
- • Global renewable capacity additions grew by more than 45% from 2019, with 110 GW of new onshore wind capacity added and 135 GW of new solar PV installed.
- • The share of renewables in the U.S. electricity generation mix will increase from 21% to 42% by 2050, while wind energy development is projected to be the main driver until 2025 and solar generation will see 80% growth from 2025 through 2050 after the production tax credit (PTC) for wind expires.
As the pace of renewable energy expansion quickens, market participants will continue to adjust to the commercial and financial implications as well as production variability and intermittency, reliability, and grid stability. In this white paper we will explore the changing nature of power markets, the complexities that will challenge utilities, power off-takers and traders, and the critical ETRM systems they rely on to ensure profitability.
Read more by downloading Global Renewables Transition Requires Dedicated ETRM Capabilities