In our previous post we introduced the fact that renewable energy producers are currently facing a data challenge. We outlined that there are two factors :
- The ongoing Energy Transition
- The development of Market based revenues for Renewable Energy Producers
Read all previous posts here!
Let’s have a look at the first one: Energy Transition.
The number of wind and solar farms is growing! And this growth is mainly driven by the strong Energy Transition ambitions. By 2030, Europe target is to almost double the 2022 proportion of its energy consumption issued from renewables sources. At EU level, the new binding target for 2030 is to have at least 42.5% of renewable energy sources in the EU’s overall energy mix. Even aiming at 45%!
The direct consequence is that there is a huge need for additional renewable power production assets. Let’s have a look at current expectations.
On the wind side, current installed capacity is above 250 GW in Europe. In its central scenario, WindEurope expects Europe to install on the average 25 GW of new capacity per year for the next 5 years. This means a +50 % in the next 5 years.
On the solar side, current installed capacity is above 260 GW in Europe. In its central scenario, Solarpower Europe expects Europe to install on the average 70 GW per year in the next 5 years. This means a 130 % growth in the next 5 years.
Based on those scenarios, we estimate globally that the number of production sites/farms will be multiplied by 3 to 5 (at least) in Europe by 2030. Without taking into account the biogas sites that should also grow very quickly in the coming years. And for each site, there are many new assets to be considered! Any new power asset connected to the grid means more data flowing into systems and mode data to be considered in the daily operations for a renewable power producer. All in one, this will lead to a considerable growth in the data volumes to be handled by renewable energy producers.
And when more power (and gas) plants connect to the grid, more data flows in!
In the next chapter we will see how market based revenues also strongly participate to the data challenge that renewable energy producers face!
Stay connected 🙂
Read all previous posts here!
