Quantifying the Flexibility Needs of Solar and Its Impacts on European Market Growth Until 2040

Recording of Tuesday, June 18, 2024 | The smarter E Europe 2024 | Conference Program | Language: English | Duration: 21:01 .

Iberdrola Executive Discusses Massive Growth in European Solar Installations and Future Energy Goals at Industry Conference

The speaker, representing Iberdrola, elaborates on the company's commitment to renewable energy and its increasing presence in Europe. He highlights that Iberdrola has significantly invested in renewables since 2000 and is approaching full decarbonization of its energy mix. Emphasizing the exponential growth of solar installations in Europe as projected by Solar Power Europe, he notes ambitious targets: 750 gigawatts (GW) by 2030 and potentially up to 2.4 terawatts (TW) by 2040. Specific national goals include Spain's plan for an additional 86 GW of photovoltaic (PV) capacity and Germany's target of adding around 215 GW PV by 2030. However, these expansions face challenges such as matching generation with peak demand times; notably much lower at night compared to midday peaks when solar output is highest. Lastly, a snapshot from the Spanish market operator’s website illustrates current electricity spot prices influenced heavily by gas costs and CO2 emissions pricing, underscoring economic pressures within the transition towards renewables.

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Speaker

Dr. Juan Rivier
Head of Global Regulation
Iberdrola
Spain

Talk of session: Global & European Decarbonization Strategies: Challenges & Solutions on Solar's Path to Become the World's Major Power Source

As solar energy continues its strong global growth trajectory, exceeding all expectations, more and more obstacles are appearing on the long way towards completing the energy transition. The question is: what is needed to unleash solar's full potential in Europe and globally, and what can realistically be achieved?´This session will discuss: