Storage, hydrogen and networks, key priorities for the COP29 presidency
This is a sign of change of times. Baku, which was the oil center of the former Soviet Union, is now at stake clean flexibilityA strategy that uses a variety of devices to make the most of renewable energy and ensure grid stability Transition to a clean and electrified energy future,
And renewable energy is the heart of a clean energy system, but Amber Climate experts say flexibility is key to making this renewable model run smoothly, constantly balancing supply and demand in real time to maintain network stability. Is.
This approach makes the most of renewable electricity by storing some of that green electricity for later use, shifting non-critical demand to periods of abundant supply, and sharing it across an extended grid where it is needed most. Is. At the same time, clean flexibility optimizes the supply of fully flexible generation assets that can be easily switched off when there is excess solar and wind energy.
Dave Jones, Global CIO, Ember: “COP29 can provide a unique platform to discuss how clean flexibility can help make solar and wind energy faster, cheaper and safer.”
Clean Resilience COP?
Well, the Amber Climate Report, titled ‘Clean Resilience COP?’ Outline of grid, storage and hydrogen proposals that will be analyzed at COP29 to show their feasibility and assess to what extent there is an opportunity to expand the clean flexibility agenda at COP29 to help triple global renewable capacity So far, laudable goals achieved at COP28 Dubai.
A condensed version of the report’s findings above shows that first, Amber analysts conclude that the storage target is “safely achievable and probably very modest,” but that the electric grid target “will require the greatest efforts.” “. On the other hand, he believes the expansion of the hydrogen electrolyzer is “very uncertain” because it is still an immature technology.
And what follows is the longer version, broken down into each element of this strategy called for to unleash the potential of renewable energy.
storage
According to experts, the storage target can be met eight times more by increasing battery manufacturing capacity, but to achieve the 1,500 GW storage target by 2030, an average of 176 GW of storage will need to be installed per year. Since batteries are measured in terms of power and energy, four hours of 176 GW of storage is equivalent to 704 GWh in energy terms, and the world’s battery manufacturing capacity could exceed demand by 6,000 GWh in 2025.
Therefore, Amber points out, the potential manufacturing supply capacity is eight times greater than the capacity needed to reach the 1,500 GW storage target. Furthermore, they emphasize that the target is made more feasible by a 39% decline in LFP lithium battery prices in the 12 months to September 2024 and an increase in interest in combined battery and solar power installations. For example, 75% of new utility solar projects proposed in the United States last year were planned with batteries.
electrical network
Amber analysts say the new network target for 2030 requires a 50% increase in the construction rate. In fact, the COP29 Presidency has proposed as a new objective to add or renew 25 million kilometers of network by 2030, rather than 2021. This would mean construction or renovation of 2.7 million kilometers per year, which is 50% more than the 1.8 million kilometers built. Average over the last decade (although this does not include renewals).
green hydrogen
Although hydrogen electrolysers have the potential to increase 100-fold by 2030, only 5 GW of electrolysers are currently in operation. However, the global deployment and manufacturing capacity of electrolyzers indicates that significant expansion is possible. Construction of 516 GW of electrolyzer projects has been announced by 2030, although financial investment has been decided only for 20 GW (this figure is similar to the International Energy Agency’s Net Zero Pathway (IEA) target of 558 GW). On the other hand, it has also been announced to build 166 GW/year of electrolyzer factory manufacturing capacity by 2030 (the IEA shows that 179 GW/year is needed by 2030 to reach its target of 558 GW/year).
Summary
In light of AMBER’s analysis, it is clear that the COP29 storage target is necessary and achievable, while additional focus on the grid and hydrogen will be required. Now, the task of COP29 is not just to achieve consensus on storage and network targets, but to motivate governments to make broader changes to focus on clean flexibility. By creating a platform for clean resilience, COP29 can create an enabling environment to triple global renewable capacity by 2030 on the path to a truly decarbonized global energy system capable of delivering a sustainable and prosperous future for all.
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