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

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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.

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INSIGHT

Clean Power Definition

The UK's Clean Power 2030 report defines "clean power" as generating 95% of electricity from clean sources.
This includes renewables, biomass, nuclear, and allows 5% from unabated gas.

INSIGHT

Herculean Effort

The UK needs to more than double its renewable energy capacity in just five years to meet the 2030 goals.
This requires a Herculean effort with unprecedented build-out rates.

INSIGHT

Offshore Wind Expansion

Offshore wind capacity needs to increase fivefold, from 1 GW to 5 GW annually.
Meeting this target requires building an area the size of Greater London every year.

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A ‘Herculean effort’ in renewable buildout is the description used in NESO’s Clean Power 2030 report, outlining practical advice for the government on achieving a power system by 2030. The report defines what ‘Clean Energy’ means (>95% clean power generation by 2030) and discusses what buildout would need to look like in order to reach these targets. A staggering 70GW of new renewable generation is predicted to be needed to reach the targets in the ambitious Further Flex and Renewables scenario. How might these suggestions be achieved in practice, and what challenges is the industry likely to face over the next 5 years in the lead-up to target dates?

In this episode Modo Market Analyst, Joe Bush joins Ed Porter to explore NESO’s Clean Power 2030 report. Over the course of the conversation, they discuss:

The purpose of the Clean Power 2030 report and what it covers.
The sheer scale of buildout required to meet renewable and flexibility system targets, from 50 GW to 130 GW.
Transmission and network challenges and how the government might tackle the issue of constraint.
The role of energy storage in managing constraints and supporting the grid.
Exploration of potential market changes, including zonal pricing to incentivize demand location near generation.

Mentioned in this episode

Joe’s research article - Clean Power by 2030: what would it mean for BESS?

About Modo Energy

Modo Energy provides forecasts, benchmarking, data, and insights for new energy assets - all in one place. Built for analysts, Modo helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

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