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WoodMac: Wind, Solar and Storage to Dominate Europe’s Power Grid by 2030
Europe’s power system will look very different in 2030, with energy storage supporting the “dominance” of wind and solar generation, according to new research from Wood Mackenzie. The big five European markets — Germany, the U.K., France, Italy and Spain — will get the majority of their power from wind, solar and other variable renewable…
By 2030 energy storage will beat gas peakers on cost across all our target markets, resulting in a cloudy outlook for any new future peaking turbines. Fuel and carbon prices are on the up, technology costs are not set for any major decreases and net-zero policies will eventually target the decarbonization of all power market services.
Rory McCarthy, Wood Mackenzie principal analyst