Keyword: electricty prices
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Fossil Fuel Substitution with Renewables for Electricity Generation – Effects on Sustainability Goals
European Journal of Sustainable Development Research, 2020, 4(1), em0111, https://doi.org/10.29333/ejosdr/6344
ABSTRACT: The substitution of fossil fuel power plants with renewable units will lead to a profound reduction of CO2 emissions and will assist in evading the Global Climate Change. Using demand data from the electricity grid of Texas, this paper develops a scenario for the substitution of coal, at first, and of all fossil fuel power plants, secondly, in the entire State of Texas. Meeting the electricity demand of the grid with renewables, makes it necessary to develop significant energy storage capacity in addition to the renewable – wind and solar – installations. Because of the lower pant capacity factors of wind and solar units, the calculations show that significantly higher renewable power capacity must be built than the current capacity of the fossil fuel units to be substituted. Also, that a substantial fraction of the generated energy is lost in the storage-recovery processes. All these factors are expected to increase the price of electricity paid by the consumers. Ahis will have an impact on the less affluent segments of the population and – if ignored by national energy policies – will affect the goal to reduce inequality within and among countries.