Plenary Session: Day 2
When: Wednesday 26th June, 09:00 – 10:45
Where: DTU Lyngby Oticon Hall (Building 107)
Session Lead: TBC
Title: Day 2 Plenary Talk – Growing interlink between climate elements and electricity security of supply
Adequacy Manager at ENTSO-E
Already in the twentieth century climate conditions had an important impact on electricity systems (for instance through storms and cold waves). Ongoing decarbonization of the electricity sector and massive integration of variable RES leads to a full change of paradigm. Climate parameters are becoming central inputs to assess the electricity security of supply. Thus, climate dependent electricity supply is expected to represent a major share in coming decades. This can be perceived through the direct and continuous climate impact on diverse generation sources such as PV, wind power or hydro power. In addition, the climate change could have potential high repercussion on the electricity system. To give several examples of climate change effects on electricity system, we can mention the recent experience of very warm and dry summer which impacts not only the hydro reservoir and rivers levels, but also for instance their temperature for cooling remaining conventional powerplants. Short but extreme weather perturbations (e.g. flood, storm) could also affect the electricity system security. The climate modelling benefits to the electricity of supply assessment in different temporal frameworks: several years ahead with climate change global effect, several months ahead with the seasonal climate forecast/trends and several days ahead with enhanced weather forecast. In conclusion, a robust model on expected climate conditions (wind, PV, temperature, etc.) is key to ensure reliable assessment of security of supply.
Title: Day 2 Plenary Talk – Reflections on the transition from cost to value of energy
Vice President, Plant & Hybrid Modelling & Analytics, Vestas Wind Systems A/S
In the last two decades there has been a major focus on reducing the levelized cost of energy for wind and solar to a level on par with oil and gas. Resulting from a major collaborative effort in the global renewable energy community, we are already there. However, the market is now changing. The penetration of renewable energy on the electricity grids is increasing, and a large share of the future installed volume of renewable energy is moving from market with low or limited merchant exposure, to fully merchant markets with highly fluctuating prices. This is associated with increased risk levels, and typically perceived as a challenge by investors, as well as developers of renewable power plants. This presentation will focus on the shift from cost to value of energy. What are the current challenges for the renewable energy industry when exposed to this changing commercial environment? And how can the meteorological community and renewable energy assessment experts support in turning this change in to an opportunity, rather than a threat?