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The Future of Power Generation: Costs of Renewable and Traditional Technologies
Business Insights, March 2005
Environmental factors such as global warming and pollution have provoked a debate about whether power generation should continue to rely on fossil fuel combustion. However, cost remains the key issue defining the viability of any power generation technology.
The Future of Power Generation: Costs of renewable and traditional technologies is a management report that outlines the current and future case for investment in traditional versus renewable energy. It provides an independent analysis of the key data to directly compare the investment case and future prospects of different power generation technologies. In addition this report contains the results of Business Insight bespoke cost of power survey of senior energy industry executive opinion, providing a unique benchmark of how decision makers within the energy industry forecast the future of power generation.
Identify the most competitive forms of power generation using this report’s independent, expert analysis of the true costs of power generation.
The answers to your questions...
- What are the weaknesses of traditional fossil fuels in terms of the long-term cost implications?
- When do senior energy executives forecast renewable energy to provide the majority of electricity production?
- What are the implications of an increase in reliance on renewable energy?
- Which energy generating technologies are the most competitive and how will this change over the next ten years?
- What impact does government policy have on the relative competitiveness of competing power generation technologies?
- How does market structure affect the pricing and penalisation of green energy?
- Which renewable energy source is the cheapest?
'The price of gas rose much more swiftly than the price of oil in the US market, though the two broadly track one another. This was a result of supply shortage triggered by factors that were unique to the US market. However similar situations could arise in other regional markets...'
Examining the key issues...
- External costs. The costs to society of power generation are often hidden and difficult to measure. There is an ongoing debate that as these costs may be high for fossil fuels that they should be factored into the true cost of power.
- Changing public preferences. Although nuclear power emerges as the most economically competitive technology it has a poor public reputation. However, there are signs that environmentalists are beginning to change their position.
- Energy storage. Higher penetration of renewables leads to large increases in structural costs to the network and increased risk of supply interruption. Energy storage may be the way to mitigate these issues and increase the competitiveness and use of green energy.
- The hydrogen economy. Many experts believe the transition to a hydrogen economy is now inevitable. While alternatives exist in a variety of energy markets - biofuels for electricity and internal combustion engines for example - none has such cross-disciplinary appeal.
'An EU sponsored study found that there was a relatively linear increase in the cost of grid extension based on the percentage of renewable generation included in the generation mix...'
This report will provide you with...
- A comparison of capital, operational and maintenance costs of traditional and renewable power generation technologies in the US, UK, Germany, Finland, Australia, Taiwan and Turkey.
- An examination of the impact of renewable penetration on structural costs including grid extension, capacity credit and balancing and the future role of energy storage.
- A detailed analysis of lifecycle costs. Lifecycle analysis will increasingly be used by planners when devising energy policies. This report assesses lifecycle costs in terms of efficiency, energy payback, greenhouse gases and other emissions, and compares ‘Net Energy Analysis’ and ‘Greenhouse Gas Life Cycle Analysis’.
- An exclusive survey of 146 senior energy industry executives, detailing their opinions on the competitiveness of new and traditional technologies, factors driving the use of renewable and nonrenewable technologies and their forecasts for penetration of renewable energy in global electricity supply.
'Solar photovoltaic technology will benefit greatly from the economy of scale effect where the increase in the volume of production leads to a decrease in price. This is exactly the same effect found in the microchip industry, which shares a similar production technology...'
The value proposition...
Benefit from 122 pages of expert insight and analysis, enabling you to:
- Understand the relative cost benefits of renewable and traditional technologies throughout their whole lifecycle.
- Identify the key factors that impact on the costings of new energy projects, including capital costs, grid extension costs and external costs.
- Assess the impact of increasing renewable power generation on the electricity market and the cost of power.
- Predict the effect of changes in fuel prices on the competitiveness of renewable technologies, and the factors that distort the price of electricity.
- Benchmark energy industry executive opinions on the future market shares of traditional and renewable energy, and the significance of the hydrogen economy.
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2008 U.S. Renewable Energy
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