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The Future of the European Electricity Grid Is Bright: Cost Minimizing Optimization Shows Solar with Storage as Dominant Technologies to Meet European Emissions Targets to 2050

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  • Zack Norwood

    (Fysisk Resurteori, Chalmers Tekniska Högskola, Göteborg 41296, Sweden)

  • Joel Goop

    (Energiteknik, Chalmers Tekniska Högskola, Göteborg 41296, Sweden)

  • Mikael Odenberger

    (Energiteknik, Chalmers Tekniska Högskola, Göteborg 41296, Sweden)

Abstract

The European roadmap for the power sector dictates an 80–95% cut of existing levels of carbon dioxide emissions is needed by the year 2050 to meet climate goals. This article describes results from a linear cost optimization investment model, ELIN, coupled with a solar technology model, Distributed Concentrating Solar Combined Heat and Power (DCS-CHP), using published investment costs for a comprehensive suite of renewable and conventional electricity generation technologies, to compare possible scenarios for the future electricity grid. The results of these model runs and sensitivity analyses indicate that: (1) solar photovoltaics (PV) with battery storage will likely play a very large role in meeting European targets; (2) concentrating solar power (CSP) with thermal energy storage is at a slight economic disadvantage with respect to PV to compete economically; (3) the economic potential of wind power is only comparable with solar PV if high wind penetration levels are allowed in the best wind sites in Europe; and (4) carbon capture and nuclear technologies are unlikely to compete economically with renewable technologies in creating a low-carbon future grid.

Suggested Citation

  • Zack Norwood & Joel Goop & Mikael Odenberger, 2017. "The Future of the European Electricity Grid Is Bright: Cost Minimizing Optimization Shows Solar with Storage as Dominant Technologies to Meet European Emissions Targets to 2050," Energies, MDPI, vol. 10(12), pages 1-31, December.
    • Handle: RePEc:gam:jeners:v:10:y:2017:i:12:p:2080-:d:122091
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    References listed on IDEAS

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    Cited by:

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    6. Byuk-Keun Jo & Gilsoo Jang, 2019. "An Evaluation of the Effect on the Expansion of Photovoltaic Power Generation According to Renewable Energy Certificates on Energy Storage Systems: A Case Study of the Korean Renewable Energy Market," Sustainability, MDPI, vol. 11(16), pages 1-17, August.

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