WoodMac: Wind, Solar and Storage to Dominate Europe’s Power Grid by 2030 | Greentech Media
https://www.greentechmedia.com/...cles/read/wind-solar-and-storage-to-dominate-europes-grids-by-2030
Power System Flexibility Key To Europe's Net Zero Targets | Wood Mackenzie
https://www.woodmac.com/news/opinion/power-system-flexibility-key-to-europes-net-zero-targets/
Europe has four options for balancing out its grid: pumped hydro, gas peakers, energy storage and interconnectors. Only the final three of the quartet are likely to be the focus of new investment.
For now, “gas peakers are more essential than ever,” said Rory McCarthy, Wood Mackenzie principal analyst. “They can ramp up to full output from warm in a couple of minutes for modern systems, have increasing efficiency levels at part loading and boast unlimited duration, assuming a reliable gas supply.”
...
by the end of the decade, battery storage will be the cheapest option for balancing Europe's grid, overtaking gas peakers, according to a new long-term energy storage outlook. Europe's energy storage capacity across all segments is expected to grow from 3 gigawatts today (excluding pumped hydro) to 26 gigawatts in 2030 — and 89 gigawatts by 2040.
By 2040, Europe could have 320 gigawatt-hours of storage capacity available for second-to-second system balancing, WoodMac says. Most of that will come from front-of-the-meter battery systems.
“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," McCarthy said. "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.”