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How energy storage is unlocking the power of offshore wind
Gwad
Member Posts: 2,855
in Tug Tavern
http://www.ethicalcorp.com/how-energy-storage-unlocking-power-offshore-wind
However, thanks to concerted efforts to cut costs and apply the lessons of earlier rounds of offshore wind installations, the 2020 target was met in the 2015/16 round of capacity auctions and in 2017, two new projects won contracts to deliver power at £57.50/MWh. This was cheaper than new gas-fired power stations and significantly lower than the £97.50 “strike” price for the UK's Hinkley Point nuclear power station.
The same trend can be seen in the battery storage sector, where costs have fallen by 80% since 2010, according to Bloomberg New Energy Finance. The International Renewable Energy Agency predicts they could fall a further 66% by 2030, stimulating a 17-fold increase in the market. Battery storage is increasingly being combined with solar and onshore wind projects, so it was only a matter of time before it started to be applied to offshore wind as well.
However, thanks to concerted efforts to cut costs and apply the lessons of earlier rounds of offshore wind installations, the 2020 target was met in the 2015/16 round of capacity auctions and in 2017, two new projects won contracts to deliver power at £57.50/MWh. This was cheaper than new gas-fired power stations and significantly lower than the £97.50 “strike” price for the UK's Hinkley Point nuclear power station.
The same trend can be seen in the battery storage sector, where costs have fallen by 80% since 2010, according to Bloomberg New Energy Finance. The International Renewable Energy Agency predicts they could fall a further 66% by 2030, stimulating a 17-fold increase in the market. Battery storage is increasingly being combined with solar and onshore wind projects, so it was only a matter of time before it started to be applied to offshore wind as well.
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The International Renewable Energy Agency (IRENA) is an intergovernmental organisation mandated to facilitate cooperation, advance knowledge, and promote the adoption and sustainable use of renewable energy. (stop here)
Enlighten me.