Solar and wind power are quite often the resources that comes to mind when renewable energy is mentioned.
Solar energy is the production of usable forms of energy from sunlight. There are several well established conversion mechanisms including solar photovoltaics (PV), solar thermal electricity and solar water heating. Countries nearer the equator are natural candidates for solar power generation.
Wind power is generated by harnessing the kinetic energy of wind. It is one of the fastest-growing renewable energy technologies with global installed generation capacity increasing by a factor of 75 over the last two decades . This significant increase in capacity is party due to rapidly falling costs.
Whilst wind and solar are relatively low-cost electricity sources, there are some issues, particularly when it’s not sunny or windy. These renewable forms of electricity are intermittent and thus require some form of backup generation to fill the gaps in supply.
Natural gas fired, combined cycle power is a relatively low carbon electricity source (particularly if paired with a carbon capture and storage system).
Battery storage may also be utilised to fill the power gaps of wind and solar but is expensive for anything other than a couple of hours of power.
Green Hydrogen is a fast developing energy storage mechanism with significant government and private sector attention. Falling costs are key to making this commercially viable.
Renewable energy and energy storage
With about 217 days of sunshine a year, the region has excellent solar resources enabling solar PV plants to generate electricity at similar lower cost than conventional hydrocarbon power plants