Research and Markets (http://www.researchandmarkets.com/research/9m4ng7/european) has announced the addition of the "European Supergrids Key Questions Answered" report to their offering.
Despite Challenges, Europe's Green Energy Supergrids are Possible for Future Low-carbon Electricity
Increasing power generation from renewable energy has led to excess energy-sharing among European states. Implementation of supergrids within select European countries would enhance effective power transmission and distribution. This market insight addresses the importance of supergrids and their necessity in Europe.
Topics covered include the benefits of supergrids, the challenges supergrids face (particularly for their development in Europe), the technical issues surrounding supergrids, and the regional developments of supergrids in Europe. The base year is 2012.
Key Findings Evolution Of Supergrids In Europe
Installing supergrids is a crucial step towards making widespread use of clean energy supplies because they will enable the decarbonisation of the power sector and the European economy by 2050. The first phase of supergrids to be built by 2020 are envisaged as essential components for achieving 2030 renewable targets.
Developments in this sector have been slow because of various political, financial, and technical risks. Government funding has also been a challenge due to the European economic crisis.
Industry participants believe that challenges, such as the need for coordinated and anticipatory investments in shared assets, can be overcome through strong political leadership. However, industry development has not adequately gained political support, and companies have not been willing to undertake supergrid projects without government guidance because of the risks involved and the high costs of setting up interconnections.
In addition, the complex problem of cost sharing among states must be addressed through open political debate so that the public can be confident in government plans for shaping the grid.
The advantages of interconnectors are that they can be a cost-effective method for backing up wind power and overcoming the greater capital costs of building power stations.
Standardisation and interoperability are crucial for the efficient and timely realisation of a supergrid in Europe. Despite various challenges and setbacks, supergrids are considered to be smart investments, especially when offshore resources are to be efficiently harnessed.
Despite formal unification, the European electricity market is actually fragmented and contains a large number of national power markets operating at different states of interconnectedness with neighbouring countries.
Currently, due to market fragmentation and weak interconnections, electricity markets and policies in favour of supergrids are still national, rather than European, affairs.
Moreover, the lack of necessary infrastructure has meant that the benefits Europe could reap from a single electricity market have not been completely gained.
One challenge to supergrids is consumer opposition to building high-voltage networks for trade or removal of grid congestion.
Wholesale legal and regulatory changes are required to open up the electricity markets so that generating companies receiving subsidies for feeding renewable energy into their country's grid also receive subsidies if they supply power elsewhere.
Much of the groundwork for addressing various challenges can be addressed, and various supergrid projects have been planned as more renewables have been added to the networks. Although European-wide supergrids have yet to be realised and their development will be slow, regional supergrid systems seem to be an emerging trend.
Key Topics Covered
1. Executive Summary
2. Supergrid Roadmap
3. Supergrid Benefits
4. The Big Challenges
5. Cost-benefit Evaluation
6. The Technical Issues
7. Key Supergrid Projects
8. Regional Developments
9. The Frost Sullivan Story
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