Posted on: 22/11/2016
Using more renewable energy will lower the total cost of generating power, according to a report.
Research by Imperial College London and charity Third Generation Environmentalism (E3G) found that, under the current trajectory, onshore wind will be at least 22% cheaper than nuclear with offshore wind 4% cheaper and solar 8% cheaper.
Under a scenario with 10GW of wind system operating costs sit at 2% of the total cost of generating power.
Although system operating costs account for 25% of the total cost under the 50GW of wind scenario, the total cost is reduced from £22 billion to £15bn.
E3G said: “The cheapest way to decarbonise the power system involves large volumes of variable renewable generation even when taking system integration costs into account.
“The Government can proceed with investment in renewable generation without risking unnecessary escalations in system costs and a burden on consumers.”
More flexibility will need to be built into the grid system to reap the benefits, E3G added.
> Download E3G's report