Renewable Energy Prospects for The European Union

Assignment Task 

Background and Summary

Most countries around the world have high ambitions in terms of deployment and integration of renewable energy generation capacities. Such a rapid increase in renewable energy penetration comes with technical, economic and regulatory challenges. Power systems and electricity markets were originally designed for conventional (say, thermal, nuclear and hydro-based) and centralized power generation, while near-future systems are set to rely on distributed and non-dispatchable generation as triggered by the deployment of renewable power generation capacities. These produce energy with nearly zero marginal cost according to Nature’s will, with the inherent characteristics of being highly variable and of limited predictability. This induces substantial challenges in the operation of power systems and electricity markets.

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