BAKU, Azerbaijan, August 10. Electrification and the integration of intermittent renewables (solar, wind) will occupy a crucial role in securing supplies to the EU and following the path to energy transition, Trend reports via the latest update from the Oxford Institute for Energy Studies (OIES).
According to the report, “electricity is certainly central to the transition. Today it accounts for 20-25 percent of energy demand in the EU countries; by 2050, it will be responsible for more than 50 percent of demand, and in some scenarios significantly more, especially where green hydrogen becomes an important part of the energy mix”.
“To avoid or mitigate potential future problems concerning the reliability of electric power supply will require in-depth thinking on a redesign of current electricity markets. This will be needed to elicit necessary private sector investment in renewables generation capacity, power storage technology, electrification, smart grids, and various other technologies, including those that increase the potential for energy demand-side management,” the publication said.
To avoid policy decisions that will hinder energy transition or increase its costs is as equally important as getting support from consumers and their active participation in energy transition, the OIES said.
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