CLEAN EN­ERGY FU­TURE

The im­prov­ing eco­nom­ics of both gen­er­a­tion tech­nolo­gies and stor­age, as well as in­creas­ing pub­lic sup­port sug­gest that the sec­tor re­mains well placed to thrive

Utilities Middle East - - CONTENTS -

The im­prov­ing eco­nom­ics of both gen­er­a­tion tech­nolo­gies and stor­age, as well as in­creas­ing pub­lic sup­port sug­gest that clean en­ergy re­mains well placed to thrive

Re­new­able power gen­er­a­tion ca­pac­ity will grow by 13.3% in 2018 to 154.6GW, ac­cord­ing to new re­search from an­a­lysts Frost & Sul­li­van.

The re­search group says that in­vest­ment in re­new­able en­ergy will hit $228.3bn in 2018, with growth slightly down on 2017 as a re­sult of China’s de­ci­sion to slow the rate of growth in its so­lar sec­tor.

De­spite this, the im­prov­ing eco­nom­ics of both gen­er­a­tion tech­nolo­gies and stor­age, as well as in­creas­ing pub­lic sup­port sug­gest that the sec­tor re­mains well placed to thrive , the re­port adds.

“The Chi­nese govern­ment’s an­nounce­ment of mod­i­fi­ca­tions to its so­lar pol­icy dra­mat­i­cally changed the pro­jec­tions the re­new­able in­dus­try had for 2018 and the fol­low­ing years,” says Maria Ben­in­tende, En­ergy & En­vi­ron­ment Se­nior In­dus­try An­a­lyst at Frost & Sul­li­van.

“World­wide, we see that as the num­ber of coun­tries cut­ting sub­si­dies in­creases, the mar­ket is com­pelled to con­sider purely com­mer­cial al­ter­na­tives to feed-in tar­iffs, such as com­pet­i­tive auc­tions and pri­vate-sec­tor power pur­chase agree­ments.”

Nonethe­less, so­lar will still rep­re­sent the lion’s share of new ca­pac­ity at al­most 90GW, with an­other 53GW com­ing from wind.

One par­tic­u­larly fast-grow­ing area will be float­ing so­lar, es­pe­cially in hy­dropower dams. “The cur­rent in­stalled ca­pac­ity of 1 GW can dou­ble or triple. As PV float­ing in­stal­la­tions do not com­pete with other pro­duc­tive land uses and as they can em­ploy al­ready de­ployed trans­mis­sion in­fra­struc­ture, there is a grow­ing in­ter­est

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A NEW SOURCE Wind is al­ready the most com­pet­i­tively priced tech­nol­ogy in most mar­kets

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