Among several interesting data points released by the EPIA (European Photovoltaic Industry Association) in its Global Market Outlook 2013–2017, there is one fact that gives a very good explanation of what is going on in the energy market.For the third time in history, non-predictable renewable energy sources (NPRES) represented the main source of electricity across the EU in terms of aggregate installed capacity while many traditional power plants are being closed.
But what does this really mean? The energy market is evolving and the age of renewables is already a reality. As the turning point in energy transition has already been reached, challenges have been created as regards the need for a new regulatory framework to address issues on the grid.
Indeed, the energy market is changing very quickly due to globalisation. Importing countries are turning into exporters and the main drivers of growth in the demand for energy. China and India together are building almost 40% of the world’s new capacity, whereas 60% of the new constructed capacity in OECD countries is only replacing retired plants.
Article published in: FuturENERGY October 2014