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POWER-GEN Confidence Index Suggests That The Industry Isn’t Ready For Essential Energy Storage

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Electricity by Philippe Put via flickr

A recent European power industry professionals survey has recently highlighted a sector keenly aware of the significance of energy storage and other emerging technologies, but may not be prepared for the future disruption that they may bring.

The second annual POWER-GEN Europe Confidence Index report, launched today, measures the attitudes of power industry practitioners in the region. The report is produced in conjunction with POWER-GEN Europe and its co-located event Renewable Energy World Europe, the leading conference and exhibition for the international power and renewable industries.

The POWER-GEN Europe Confidence Index is the result of a pan-European study of more than 800 of the region’s power market professionals. It focuses on topics including: renewable integration, energy storage, electric vehicles and all the main types of power generation.

The key findings include:

• Despite sluggish growth expected for the European economy, 60% of respondents predict that demand for electricity will continue to increase – by around 3%
• Investment in research and development (R&D) is expected to continue, provided the economy does not shrink by more than 1-2%
• However, jobs are felt to be at risk, and respondents think the economy would have to grow by as much as 3% before new roles are created
• Germany’s status as the European energy powerhouse is confirmed, both on current scenarios and looking forwards
• 47% of respondents think the UK will be a strong power equipment and services market, with 33% expecting a surge in renewable project investment
• Poland’s importance to the conventional power market is confirmed and Turkey’s rise for all forms of generation is recognised
• 38% see energy storage as ‘vital’ over the next 10 years, but only 26% were ‘very confident’ that the industry is ready and able to implement this technology
• Cybersecurity is high on the agenda and expected to be a dominant industry theme for the next two decades
• 10 and 20-year forecasts see smart cities and electric vehicles rise significantly in importance too
• Wind power stands out as the source for the future according to respondents – offshore wind scores highly on 10 and 20-year scenarios while onshore climbs even higher over the 20-year period
• Wave, tidal and carbon capture, and storage are still viewed as low impact in the short-term with less than 10% of respondents seeing them as important within 10 years. However, their long-term potential is recognised – more than 20% thought they would be important within 20 years

The index was revamped this year to improve sensitivity and to better focus on future trends. This means that not all data is directly comparable to the first edition in 2015, however several clear differences and valuable comparisons do emerge:

• This year, the industry feels that jobs are at risk, whereas last year, the prevailing mood was that they would increase
• Ranking different technologies’ importance to the sector in 20 years’ time, energy storage and plant modernisation remain resolutely at the top of the list whilst certain technologies, such as carbon capture and storage, wave and tidal still languish near the bottom…
• …however, cybersecurity threats, closer integration of heat and electricity and solar CSP do all appear to have gained ground
• Big data has moved from a long-term issue, to an agenda item for now and the near-future

The full report is free to download and is accessible to all through the POWER-GEN Europe website.

The industry will be surveyed again next year, ahead of and during POWER-GEN Europe and Renewable Energy World Europe 2017 in Cologne, Germany from 20th – 22nd June.

Nigel Blackaby, Conference Director of POWER-GEN Europe and Renewable Energy World Europe, said: “The POWER-GEN Europe Confidence Index is the perfect barometer for industry professionals looking for tangible intelligence on the industry’s direction. As many would expect, energy storage and renewables remain top of the agenda, but the rise of topics such as cyber security and big data gives valuable insights on our direction of travel.”

Energy

Are the UK Governments Plans for the Energy Sector Smart?

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The revolution in the energy sector marches on, wind turbines and solar panels are harnessing more renewable energy than ever before – so where is it all leading?

The UK government have recently announced plans to modernise the way we produce, store and use electricity. And, if realised, the plans could be just the thing to bring the energy sector in line with 21st century technology and ideologies.

Central to the plans is an initiative that will see smart meters installed in homes and businesses the length and breadth of the country – and their aim? To create an environment where electricity can be managed more efficiently.

The news has prompted some speculation about how energy suppliers will react and many are predicting a price war. This could benefit consumers of electricity and investors, many of whom may be looking to make a profit by trading energy company shares online using platforms such as Oanda – but the potential for good news doesn’t end there.

Introducing New Technology

The plan, titled Smart Systems and Flexibility is being rolled out in the hope that it will have a positive impact in three core areas.

  • To offer consumers greater control by making smart meters available for all homes and businesses by 2020. Energy users will be able to monitor, control and record the amount of energy they use.
  • Incentivise energy suppliers to change the manner in which they buy electricity, to offer more smart tariffs and more off-peak periods for energy consumption.
  • Introduce new standards for electrical appliances – it is hoped that the new wave of appliances will recognise when electricity is at its cheapest and at its most expensive and respond accordingly.

How the Plans Will Affect Solar Energy

Around 7 million houses in the UK have solar panels and the government say that their plan will benefit them as they will be able to store electricity on batteries. The stored energy can then be used by the household and excess energy can be exported to the national grid – in this instance lower tariffs or even payment for the excess energy will bring down annual costs significantly.

The rate of return on energy exported to the national grid is currently between 6% and 10%, but there are many variables to take into account, such as, the cost of battery storage and light levels. Still, those with state-of-the-art solar electricity systems could end up with an annual profit after selling their excess energy.

The Internet of Things

Much of what the plans set out to achieve are linked to the now ubiquitous “internet of things” – where, for example, appliances and heating systems are connected to the internet in order to make them function more smartly.

Companies like Hive have already made great inroads into this type of technology, but the road that the government plans are heading down, will, potentially, go much further -blockchain technology looms and has already proved to be a game changer in the world of currency.

Blockchain Technology

It has already been suggested that the peer to peer selling of energy and exporting it to the national grid may eventually be done using blockchain technology.

“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”

Don and Alex Tapscott, Blockchain Revolution (2016)

The upshot of the government’s plans for the revolution of the energy sector, is that technology will play an indelible role in making it more efficient, more flexible and ultimately more sustainable.

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Energy

4 Case Studies on the Benefits of Solar Energy

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Demand for solar energy is growing at a surprising rate. New figures from SolarPower Europe show that solar energy production has risen 50% since the summer of 2016.

However, many people are still skeptical of the benefits of solar energy.Does it actually make a significant reduction in our carbon footprint? Is it actually cost-effective for the company over the long-run?

A number of case studies have been conducted, which indicate solar energy can be enormously beneficial. Here are some of the most compelling studies on the subject.

1.     Boulder Nissan

When you think of companies that leverage solar power, car dealerships probably aren’t the first ones that come to mind. However, Boulder Nissan is highly committed to promoting green energy. They worked with Independent Power Systems to setup a number of solar cells. Here were the results:

  • Boulder Nissan has reduced coal generated electricity by 65%.
  • They are on track to run on 100% renewable energy within the next 13 years.
  • Boulder Nissan reduced CO2 emissions by 416,000 lbs. within the first year after installing their solar panels.

This is one of the most impressive solar energy case studies a small business has published in recent years. It shows that even small companies in rural communities can make a major difference by adapting solar energy.

2.     Valley Electric Association

In 2015, the Valley Electric Association (VEA) created an 80-acre solar garden. Before retiring from the legislature, U.S. Senate Minority Leader Harry Reid praised the new project as a way to make the state more energy dependent and reduce our carbon footprint.

“This facility will provide its customers with the opportunity to purchase 100 percent of their electricity from clean energy produced in Nevada,” Reid told reporters with the Pahrump Valley Times. “That’s a step forward for the Silver State, but it also proves that utilities can work with customers to provide clean renewable energy that they demand.”

The solar energy that VEA produced was drastically higher than anyone would have predicted. SolarWorld estimates that the solar garden created 32,680,000 kwh every year, which was enough to power nearly 4,000 homes.

This was a major undertaking for a purple state, which may inspire their peers throughout the Midwest to develop solar gardens of their own. It will reduce dependency on the electric grid, which is a problem for many remote states in the central part of the country.

3.     Las Vegas Casinos

A number of Las Vegas casinos have started investing in solar panels over the last couple of years. The Guardian reports that many of these casinos have cut costs considerably. Some of them are even selling the energy back to the grid.

“It’s no accident that we put the array on top of a conference center. This is good business for us,” Cindy Ortega, chief sustainability officer at MGM Resorts told Guardian reporters. “We are looking at leaving the power system, and one of the reasons for that is we can procure more renewable energy on the open market.”

There have been many benefits for casinos using solar energy. They are some of the most energy-intensive institutions in the world, so this has helped them become much more cost-effective. It also helps minimize disruptions to their customers learning online keno strategies in the event of any problems with the electric grid.

4.     Boston College

Boston College has been committed to many green initiatives over the years. A group of researchers experimented with solar cells on different parts of the campus to see where they could produce the most electricity. They discovered that the best locationwas at St. Clement’sHall. The solar cells there dramatically. It would also reduce CO2 emissions by 521,702 lbs. a year and be enough to save 10,869 trees.

Boston College is exploring new ways to expand their usage of solar cells. They may be able to invest in more effective solar panels that can generate far more solar energy.

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