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Transmission

Clean power 2030 with Joe Bush (Market Analyst @ Modo Energy)

Nov 14, 2024
Joe Bush, a market analyst at Modo Energy, dives into Britain's ambitious Clean Power 2030 report, which aims for over 95% clean power generation. He discusses the Herculean effort required, with predictions of needing 70GW in new renewables. Joe highlights the vital role of energy storage in addressing grid constraints and explores market changes like zonal pricing to optimize demand. The conversation also touches on integrating gas generation with renewables and the associated challenges, emphasizing the urgent need for a government action plan.
33:49

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Achieving the Clean Power 2030 targets necessitates doubling renewable energy capacity to 120-130 GW, emphasizing offshore wind deployment's crucial role.
  • Enhancing transmission networks is vital to prevent escalating consumer costs and ensure efficient delivery of increased renewable energy from production sites to urban areas.

Deep dives

Herculean Growth of Renewables

Meeting the targets set by Clean Power 2030 requires a significant increase in renewable energy capacity in Great Britain, as it aims to more than double the current installed capacity from around 50 gigawatts to between 120 and 130 gigawatts. Achieving this ambitious goal involves ramping up offshore wind deployment to five gigawatts per year, compared to the historical average of one gigawatt annually. This unprecedented build-out requires not only investment but also substantial logistical efforts to ensure that necessary infrastructure supports such rapid growth. Failure to meet these targets raises concerns over both energy security and rising costs for consumers as current balancing costs could skyrocket from £1.5 billion to £12.7 billion annually by 2030.

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