Flexible electricity generation, grid exchange and storage for the transition to a 100% renewable energy system in Europe
Lappeenranta-Lahti University of Technology · German Institute for Economic Research · +1 more institution
Abstract
Two transition pathways towards a 100% renewable energy (RE) power sector by 2050 are simulated for Europe using the LUT Energy System Transition model. The first is a Regions scenario, whereby regions are modelled independently, and the second is an Area scenario, which has transmission interconnections between regions. Modelling is performed in hourly resolution for 5-year time intervals, from 2015 to 2050, and considers current capacities and ages of power plants, as well as projected increases in future electricity demands. Results of the optimisation suggest that the levelised cost of electricity could fall from the current 69 €/MWh to 56 €/MWh in the Regions scenario and 51 €/MWh in the Area scenario…
Citation impact
- FWCI
- 36.57
- Percentile
- 100%
- References
- 72
Authors
4Topics & keywords
- Renewable energy
- Electricity
- Energy transition
- Electricity generation
- Environmental economics
- Grid
- European union
- Cost of electricity by source
- Affordable and clean energy