INDUSTRIAL
The Future of Renewable Energy, Infrastructure & E-mobility
Markus Lorenz, Director, Industry Marketing, Industrial EMEA, TTI Inc. T
he recently revised Renewable Energy Directive raises the EU’s renewable target for 2030 from 32% to a minimum of 42.5% with the aspiration to reach 45%. This goal underscores the EU’s commitment to leading the global transition to sustainable energy, however, it brings forth the challenge of ensuring Europe’s energy security.
Renewable energy sources like wind turbines and solar panels, while sustainable, are subject to the whims of nature, leading to intermittent electricity generation. This intermittency in electrical generation can be constrained or overcome by using energy storage. The European Association for Storage of Energy (EASE) estimates that by 2030, at least 187 GW of energy storage will be required, escalating to 600 GW by 2050 to
40
support energy shifting and accommodate the growing electric vehicle (EV) sector.
The Changing Energy Landscape The traditional energy model, reliant of constant and predictable energy generated from fossil fuels and distributed over the power grid, is undergoing a dramatic transformation. An increasing number of households are now generating their own energy, mainly via solar panels mounted on the roof.
This shift has been encouraged by governmental feed-in tariffs, allowing homeowners to sell surplus energy back to the grid. However, as energy costs soar, the focus is shifting towards storing this excess energy in batteries for use during off-peak hours, ushering in the rise of ‘prosumers’ who
JUNE 2024 | ELECTRONICS FOR ENGINEERS
both produce and consume energy. This not only facilitates stable pricing by managing demand, but also allows the opportunity to purchase lower-cost energy for future use. This accumulated energy later helps in reducing the grid loads during peak times. The solar market is booming. According to
the SolarPower Europe market study, during 2023 newly installed PV capacities brought the total available capacity to 263 GW. This surge is complemented by a significant growth in battery energy storage system (BESS) market, highlighting the critical role of storage in the renewable energy ecosystem. With the further transition in carbon neutral energy, like vehicle electrification, the demand for energy generated from solar and wind will require significant expansion of storage capacity.
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