While the solar and storage pairing is still relatively new, the growth over the next five years will be significant globally. As against just 5% in 2019, by 2025 more than 25% of all behind-the-meter solar systems will be paired with storage.
India Ratings says the power demand declined for March and April 2020, taking a hit on generation from thermal sources as renewables continued to enjoy ‘must run’ status.
Researchers from Finland’s Lappeenranta University of Technology have assessed the economic advantages of a fully interconnected global network. They found that an international grid could contribute to a global LCOE of €52.50/MWh. The higher complexity of such a system, however, would only be marginally compensated by additional economic benefits.
The all-India installed capacity for power generation is projected to rise to 619 GW by the end of 2026-27 from 369 GW as on February 29, 2020. The optimal generation mix will, however, depend on the development of storage technology and renewable energy.
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