WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 14
Global
Outlook
FIGURE 4
Additionally, various countries including the United Kingdom,
Ireland and Australia have been introducing measures such as
fast frequency response and similar services that stabilise the
power system rapidly after disruptions.
Battery storage systems can provide such services for grid
stability while enhancing system flexibility (see below).
Growth of intermittent renewables (solar and wind) penetration
rate in electricity generation is also increasing grid stability
problems that translate into difficulties to stabilize the power
system frequency.
Some Countries or Regions with high shares of variable
renewable generation are establishing minimum requirements
for system inertia that helps enhance the power system’s
resilience during disturbances.46
LCOE including levelized firming cost ($/MWh)
HOME
NEXT
ARTICLE
$250
Gas Peaking LCOE v17.0 ($110 - $228/MWh)
200
$177
175
$153
$172
$162
$160
$146
150
$123
100
$100
$91
50
$53
$38
25
$110
$80
$67
$67
$75
$49
$87
$49
$68
$53
$137
Gas Combined Cycle LCOE v17.0 ($45-$108/MWh)
$75
$63
$62
$97
$107
$78
75
$106
$55
$47
$42
$78
$69
$71
$81
$67
$50
$63
$54
$47
$50
$44
$29
$56
$42
$42
$25
0
ELCC
Capacity Factor
Resource Penetration
Solar
39%
18%
6%
MISO
Wind
26%
34%
Solar
8%
23%
PV+Storage
Wind
51%
23%
14%
23%
Solar
57%
21%
25%
52%
52%
CAISO
20%
1%
PV+Storage
19%
39%
Solar
42%
18%
72%
18%
21%
42%
Solar
38%
23%
58%
7%
7%
PJM
7%
21%
Wind
SPP
46 A property typically provided by conventional generators with spinning rotors that helps enhance the power system’s resilience during disturbances. Wind and PV solar that don’t need
turbines cannot provide this stabilizing feature
Wind
Wind
25%
33%
LCOE
Subsidized (excl. Energy
Community)
44%
ERCOT
Firming Cost
WEMO 2024
125
14
Levelized Cost of Energy ($/MWh)
225
