Creating Reliable, Dispatchable Green Electrons

We are proving every day that renewable energy not only benefits our environment, but is also a smart, profitable, long-term investment. For the past two decades, the renewable energy industry has focused on driving down the Levelized Cost of Energy (LCOE), advocating for and proving the value of government subsidies, scaling green power and preparing itself for the eventuality of a subsidy free world.

Now, I believe the industry needs to move to creating dispatchable green electrons and a guaranteed renewable energy supply. It is what our customers ultimately want and will value. They don’t just want wind, hydro or solar – they want green electrons that will be available where and when they need it.

To get there, we need to focus on much more sophisticated ways of creating and storing renewable power when it is not immediately needed, so it can be sent to the grid when it is.

Energy storage allows wind and solar plants to immediately respond to changes in load, enhancing wind and solar farm flexibility, reduce the impact and uncertainty of weather-related forecasts on power generation, and make up the difference when unexpected shortfalls of wind and solar generation output occur.

By combining energy storage with multiple sources of energy generation – whether hydropower, wind and solar – and uniting those with control systems, we’re creating hybrid systems that will allow the industry to unlock significant untapped value.

The economic model varies from one country to another but there is a great deal of interest in developing hybrid renewable energy solutions, to find the balance within energy supply and grid stability, in a way that no single technology can. The first experiments are already happening.

In Gaildorf, Germany, we set up approximately 15 MW of wind turbines alongside an integrated water tank to combine wind power and hydro pumped storage. And at India’s Kadapa Hybrid Park, we are developing our first major project to integrate wind, solar and battery energy storage, which will significantly improve grid stability.

We must continue pushing the boundaries of what’s currently possible, investing in new technologies, building new financing models, and unlocking the potential of countries globally. We must advocate for regulatory measures that place a proper value on storage to ensure that the most efficient renewable solutions are being developed in the first place.

According to financial analysts, by 2020, renewables will have become the cheapest form of power generation. For renewable energy to be the world’s primary power source, we have to change our mindset from simply LCOE to generating reliable, dispatchable green electrons. I believe we are uniquely positioned to deliver on that promise for our customers and the planet.