BAKU, Azerbaijan, Dec.1
By Leman Zeynalova – Trend:
Europe’s renewable capacity is forecast to expand by 45 percent by 2026 from the addition of 300 GW, led by solar PV and wind, Trend reports with reference to the International Energy Agency (IEA).
Three-quarters of the growth is from seven countries: Germany, Spain, France, the Netherlands, Turkey, the United Kingdom and Poland, says the IEA.
“Government-held auctions remain a critical policy driver of utility-scale growth in most markets. An increasing proportion of the growth is expected to come from corporate PPAs due to the competitiveness of wind and solar PV with wholesale electricity prices and the private sector’s sustainability goals,” reads the IEA report.
The report says that for countries in the European Union, the 2030 renewable energy targets set out in the NECPs (national energy and climate plans) remain a key policy underpinning renewable electricity capacity growth.
“These targets are part of a larger climate and energy framework, which currently sets a target of at least 32 percent of final energy consumption at the EU level to be from renewables by 2030. By 2026 the European Union’s renewable capacity is expected to reach 750 GW, expanding by 40 GW per year on average. If this pace continues, the bloc will be on track to not only meet, but to exceed current renewable capacity plans for 2030 stated in NECPs. This trajectory is even more likely in the accelerated case. The 2030 target is likely to be raised; however, the final amount and when that would be reflected in member states’ NECPs remain a forecast uncertainty.
---
Follow the author on Twitter: @Lyaman_Zeyn