Next Generation of RES-E Policy Instruments
The rise of renewable sources of electricity (RES-E) is transforming power systems globally. This trend is likely to continue with large increases in investment and deployment of RES-E capacity over the coming decades. Several countries now have penetration levels of variable RES-E generation (wind and solar) in excess of 15% of their overall power-generation mix; and many jurisdictions (e.g., Spain, Portugal, Ireland, Germany, and Denmark; and, in the United States, Colorado) have experienced instantaneous penetration levels of more than 50% variable generation.
These greater penetration levels of variable RES-E have prompted jurisdictions to begin modifying practices that evolved in an era of large, readily dispatchable, central-station conventional power plants. A changing resource mix with greater penetration levels of variable RES-E has implications for grid operations, wholesale and retail power markets, and infrastructure needs. Thus, next-generation RES-E policies must be designed to address these emerging issues in an effective manner.
The RES-E-NEXT project commissioned by IEA-RETD presents an assessment of the key considerations for the next generation of RES-E policy through 2025 by analysing four crucial policy domains:
- Securing RES-E generation;
- Securing grid infrastructure;
- Short-term security of supply: Flexibility; and
- Long-term security of supply: Adequacy.