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Renewables 2.0: Subsidy-free revolution

Aurora Spring Forum 2018: Keynote Presentation

Mateusz Wronski Head of Product Development at Aurora Energy Research presented Aurora’s keynote speech on Renewables 2.0 – The subsidy-free revolution at the company’s annual Spring Forum.

The keynote presented key findings and insights from Aurora about the growth of subsidy-free renewables and the profound implications this has for the growth of the market and future policy development.

Back in 2010 at the start of the Electricity Market Reform process in GB, few would have imagined that by 2018 the industry would be talking about a subsidy-free future for renewables.  Yet, this is where we have arrived, and Aurora’s research highlights the enormous prize and potential in the market, not only in GB but across Europe in the region of €180 billion across North West Europe (GB, Germany, France, Ireland, the Netherlands and Belgium).

The rise of subsidy-free renewables is a BIG deal for renewables investors with up to 18GW potentially by 2030 in GB alone, and over 60GW across North-West Europe and the nature of the investment is fundamentally different.  It is merchant risk and investors now have to understand their exposure to power price, and to the complex set of market drivers that shape the power price, including commodity prices, but also deployment of renewables and the amount of flexibility on the system.

Subsidy-free renewables will be a true “game changer” for the energy industry and policy markers, with a knock-on effect on baseload technologies as well as flexible generation.

To view the full presentation please click here

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