In August 2019, the Department of Communications, Climate Action and Environment (DCCAE) published the Climate Action Plan (CAP) which outlined targets to reach 70% renewable generation by 2030 (as a proportion of total electricity needs). As of January 2021, the all-Ireland system has 300 MW of operational solar capacity, 5.5 GW of onshore wind capacity and 25 MW of offshore wind capacity, which equated to a demand share of 40.2% for renewable electricity in 2020.
Over the last decade, increasing renewables capacities in the I-SEM system has led to a steady rise in the price cannibalisation experienced by renewables technologies. Renewables capacity is a key determining factor for cannibalisation, yet other factors such as weather patterns, system flexibility and operational limits also play a significant role in cannibalisation and the extent to which it will prevail in future years. In particular, as renewable buildout increases, market outturns become more and more dependent on weather variations. As I-SEM power system progresses towards its future renewables ambitions, understanding the relationship between these factors and assets revenues becomes crucial.
In this webinar recording, we present an overview of renewables price cannibalisation and a deep dive into locational drivers for renewables business models.
As part of this, we address:
- How has price cannibalisation materialised in the I-SEM market to date?
- Other than renewables capacity deployment, what are the key drivers for cannibalisation and how will these change in the future?
- How does the grid connection impact a site’s business model?
- How do weather years impact price cannibalisation?
Amun site-specific wind tool coming to Ireland
We will also soon be releasing our Amun wind tool for Ireland. Amun is our advanced geospatial tool for site-specific wind farm capture prices, revenue and economic curtailment forecasts. We providedf a demonstration in the webinar to showcase how you will be able to use Amun to provide you with site-specific forecasts in minutes.