ERLANGEN, Germany, July 14, 2022 (GLOBE NEWSWIRE) — Fluence Energy, Inc. (“Fluence”) (Nasdaq: FLNC), a number one world supplier of power storage merchandise and companies and digital purposes for renewables and storage, as we speak, together with 9 different signatories, launched the next open letter to European coverage makers and the media concerning the REPowerEU plan and the pressing have to rethink the construction of European power markets. Specifically, the letter outlines why Europe wants a speedy rollout of applied sciences to extend grid flexibility, and robust targets and coverage frameworks in place to encourage the near-term adoption of those applied sciences.
The full letter follows:
An Open Letter to European Policy Makers and the Media concerning the REPowerEU Plan
The present geopolitical scenario throughout the continent, mixed with excessive dependency on imported pure fuel, rising electrical energy demand, and consequently, larger payments for households and companies, creates an pressing have to rethink the construction of European power methods.
The REPowerEU Plan1, printed in May by the European Commission, goals to extend the safety of power provide by constructing and connecting extra renewable era to the grid. However, for this plan to achieve success, it have to be accompanied by satisfactory targets and coverage frameworks for the deployment of power storage and different flexibility applied sciences. They are essential to allow the secure and environment friendly integration of renewables into the electrical grid, and now could be the time to recognise them because the pillars of the European power transition.
The signatories to this letter, organisations with decades-long expertise in creating and supporting world and European power markets, welcome the REPowerEU Plan, its bold renewable targets, and the popularity of the position of power storage in delivering sustainable and dependable power provide.
At the identical time, we consider that if the accelerated near-term deployment of renewable power sources is to achieve success, Europe wants a speedy rollout of confirmed and scalable applied sciences to extend grid flexibility and allow the secure and environment friendly integration of renewable era. To this finish, battery-based power storage is a rapidly deployed, cost-effective, and low-emissions answer with the potential to turn into a spine of recent, resilient, and decarbonised power methods. Other applied sciences, corresponding to demand aspect response, the improved utilisation of current storage potential of pumped hydroelectric and different power storage applied sciences, in addition to the interconnectivity between nationwide electrical energy markets, are all vital to enabling the European power transition.
Thanks to its distinctive traits – pace of response, flexibility, and reliability – battery-based power storage and different fast-acting applied sciences are completely positioned to cut back the general electrical energy value for companies and residential power customers in a number of methods. Battery-based power storage can improve community stability and ease congestion on transmission traces, lowering renewable curtailment and the numerous prices related to it. It can present capability and ancillary companies that steadiness provide and demand, typically extra environment friendly and cheaper than different applied sciences. It may restrict worth volatility and thereby general electrical energy value within the wholesale power markets by means of power arbitrage.
In a number of markets world wide, power storage applied sciences have confirmed their means to exchange thermal energy vegetation as a extra economical and low-carbon method of offering safe power provide in periods of peak demand and low renewable era. But regardless of getting access to this ready-to-deploy and cost-effective know-how, we proceed to depend on high-emission pure gas-based era, whereas the Europe-wide targets that will strategically scale up power storage tasks are but to be developed and embedded in regulation. In 2021, capability market auctions throughout Europe awarded roughly 2.4 GW of contracts to power storage, however numerous research predict that to extend the safety and reliability of power methods on the continent, we’ll want as much as 200 GW of power storage by 2030. Additional modifications to the power market construction and design are additionally required to allow the targets of REPowerEU.
Furthermore, the power market ought to be designed in a method that gives clear worth alerts to turbines and clients in step with the wants of the system at any second in time. Energy costs ought to be low at instances of excessive renewable era, and larger in periods of low era. Similarly, the price of utilizing the grid ought to be larger when it’s congested offering worth alerts to native era and consumption that helps to decrease the congestion on the grid.
The carbon depth of peaking energy vegetation must be addressed in capability market design and by means of new coverage measurements corresponding to clear peaking requirements. Grid connections for power storage ought to be prioritised. The introduction of versatile connection agreements in congested areas can pace up integration of storage, which in flip may also help scale back congestion primarily based on market alerts. Finally, current boundaries to storage in nationwide markets, corresponding to charging of charges, levies or taxes that aren’t cost-reflective and drawback storage applied sciences, or restrictions to market participation have to be eliminated in step with current European laws.
We stay up for working along with the regulators and different market stakeholders, realising the targets outlined within the REPowerEU Plan by delivering applied sciences, options and coverage frameworks to safe reasonably priced, dependable, and sustainable power methods for European customers.
Manuel Perez Dubuc, CEO
Fluence Energy GmbH
Alex O’Cinneide, CEO
Gore Street Capital
Ben Guest, Managing Director
Gresham House – New Energy Division
Wilfred Karl, CEO
MW Storage
James Basden, Co-Founder and Director
Zenobē
Luis Marquina de Soto, President
Asociación Empresarial de Pilas y Baterías y Almacenamiento – Spanish Energy Storage Association
Urban Windelen, Executive Director
Bundesverband Energiespeicher Systeme e.V.
Bobby Smith Head of Energy Storage Ireland
Energy Storage Ireland
Dr. Matthias Vetter, Abteilungsleiter Elektrische Energiespeicher
Fraunhofer-Institut für Solare Energiesysteme (ISE)
Prof. Dr. Stefano Passerini
Karlsruhe Institut für Technologie (KIT)
1The REPowerEU Plan by European Commission was first communicated in March and printed on May 18th. It contains growing the goal of power generated from renewable sources to 45% by 2030, up from 40% in comparison with final yr’s targets. This would convey Europe’s renewable power era to 1,236 GW by 2030, together with the set up of 320 GW of photo voltaic by 2025.
About Fluence
Fluence Energy, Inc. (Nasdaq: FLNC) is a world market chief in power storage merchandise and companies, and digital purposes for renewables and storage. With a presence in 30 world markets, Fluence gives an ecosystem of choices to drive the clear power transition, together with modular, scalable power storage merchandise, complete service choices, and the Fluence IQ Platform, which delivers AI-enabled digital purposes for managing and optimizing renewables and storage from any supplier. Fluence is reworking the best way we energy our world by serving to clients create extra resilient and sustainable electrical grids. For extra data, go to our web site, or comply with us on LinkedIn or Twitter.
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