GE renewable energy chief executive Jerome Pecresse has said systems combining intermittent clean energy generation with storage are critical to future renewables growth.
According to Pecresse, in a piece published on LinkedIn Pulse, renewable energy is a smart, profitable, long-term investment, driving down the levelised cost of energy (LCoE), whilst scaling green power in preparation for a subsidy-free future.
The next step for the industry is to move towards making clean energy dispatchable and guaranteeing supply based on wind and solar. This what customers want, he said.
However, systems for creating and storing renewable power when it is not immediately needed, need more focus and effort.
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, it is possible to create hybrid systems that will allow the industry to unlock significant untapped value.
According to Pecresse there is growing interest in developing hybrid renewable energy solutions, to find the balance within energy supply and grid stability, with initial projects and pilots underway.
In Gaildorf, Germany, GE has built 15MW of wind turbines alongside an integrated water tank to combine wind power and pumped-hydro storage. At India’s Kadapa Hybrid Park, the company is developing its first big project to integrate wind, solar and battery energy storage, to enhance grid stability and optimise the output of these resources.
Pecresse said: “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,” added Pecresse.