Donald R Noble
My latest paper: "An Analysis of Market Subsidy Costs for Utility-Scale Renewable Energy Generation in the UK" has just been published #OpenAccess in Energies https://www.mdpi.com/1996-1073/19/12/2916
This work shows the costs of subsidising utility-scale renewable electricity generation in the UK, focusing on wind, solar and tidal stream technologies in the Renewables Obligation (#RO) and Contracts for Difference (#CfD) schemes.
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#Renewables #OffshoreWind #OnshoreWind #SolarPV #TidalPower #MarketSubsidy
Jun 23 at 9:20amWeb
Show threadDonald R Noble1d ago
The subsidy of each technology is calculated using published data, including an estimate of committed costs over the full project lifetime, which is not always assessed.
For the technologies considered, the RO supported 24.8 GW of installed capacity at a lifetime cost of about £103 bn. To date, CfD have been awarded for 45.3 GW of wind, solar and tidal stream, with total lifetime cost of £40 bn, although this is sensitive to future gas generation costs, with a range of £8–71 bn.
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Show threadDonald R Noble1d ago
The CfD scheme offers better value for money to consumers than the previous RO schemes, and this is true for all technologies assessed. By design, the CfD also helps to insulate billpayers from spikes in the wholesale market caused by high fossil fuel prices, decoupling the costs of electricity from gas.
Finally, credible scenarios for future deployment out to 2050 are also presented, along with discussion of potential socioeconomic benefits and the mechanisms to achieve these.
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Show threadEla - TechnicalOtter1d ago
@drnoble Adds to list of papers to read over the next few days...