China Just Connected the World's Biggest Hybrid Solar Plant to the Grid
Critical Data For India’s Largest Nuclear Plant Exposed In Massive Breach Utility-scale solar costs have increased… Haley Zaremba is an energy journalist and researcher with more than a decade of professional experience covering global energy systems, land and natural resources, and… The face of energy security is changing.
Historically, fossil fuels have represented security thanks to their established supply chains and round-the-clock production potential, while renewable energies represented risk and variability.
Butthat equation is reversingas consecutive global oil shocks throw the fossil fuels industry into turmoil and energy storage systems make wind and solar more dependable options at any time of day.
The offensive in Iran, led by the United States and Israel, has led to a near-total blockage of the oil industry’s most important artery.
Since March, one-fifth of the world’s crude oil and gas trade has been choked off in the Strait of Hormuz, causing volatility in global oil prices and creating an especially potent threat in Asian markets, which were the primary buyers of oil and gas coming out of the Strait.
In this context, the relative benefits of renewable energies have become increasingly evident on a global scale.
“Wind and solar cannot be embargoed, blockaded, or shut off by a foreign power,” David Frykman, General Partner at Stockholm-based venture capital group Norrsken, wrote in anop-edfor Fortune earlier this year.
“Every terawatt-hour of domestic renewable generation is a terawatt-hour that no adversary can weaponize.” SetOilPrice.comas a preferred source in Googlehere.
The only problem is that solar and wind energy are variable, meaning that they only produce electricity when the sun is shining and the wind is blowing, unlike baseload power sources that can produce around the clock, and are easily manipulated to follow demand curves.
Unfortunately, demand is often at odds with peak solar and wind production hours.
This makes energy storage, which captures surplus energy at peak production hours and then releases it back onto the grid when demand outstrips supply, an absolute necessity for renewable-dependent energy systems.
As a result, demand for hybrid energy-plus-storage systems has skyrocketed worldwide, in countries both rich and poor, big and small.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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