Page 7 - AsiaElec Week 14 2022

AsiaElec COMMENTARY AsiaElec

forward and switch to 21st century energy sys-
tems based on renewables,” he added. projects in the near term and initiate structural
market design changes in the mid-term to enable
Market design an acceleration in renewable energy deployment.
The report said that the current energy crisis is The good news is that the energy policy envi-
the consequence of energy markets built around ronment is in flux, and GWEC said it expected
fossil fuels. This meant that the wind industry a wave of new policy initiatives to address the
faced higher costs amid perverse market design: gap between current installation rates and the
The report called for policymakers need to trajectory needed to achieve net zero and energy
re-evaluate markets to align with economic and security.
social objectives. However, reforming the market will need
“Policymakers must guarantee regulatory such developments as removing direct and
stability as well as overcome permitting bot- hidden subsidies or advantages for fossil fuels
tlenecks and further develop grids. The wind generation; prioritising land/seabed allocation,
industry stands ready for a massive deployment procurement, construction, grid connection
of renewable capacity; national and regional and dispatch for renewables-based generation;
policy must clear the path for this,” said Xabier accounting for the socioeconomic and environ-
Viteri Solaun, managing director of Iberdola mental costs of carbon; and realigning electricity
Renewables. markets to consider system value more widely.
The report welcomed the energy system Technology innovation and scale are also
reform packages underway in Europe and other necessary for supporting stability, flexibility and
regions, in light of the Ukraine crisis. responsiveness as fossil fuels are phased out.
For example, the EU is giving great priority to The report is welcome news for the wind
the Green Deal targets, via its new REPowerEU industry and for the energy transition as a whole,
programme, as a key way to reduce reliance on but the rate of change is still woefully short of
Russian oil and gas. what is needed to reach net zero.
Global leaders put 2050 and net zero at the
Looking ahead very top of the political agenda at COP26 in
GWEC said that such initiatives could signif- Glasgow in 2021.
icantly revise upward its five-year forecast this Yet they also warned that the targets would be
year. difficult to meet. This latest wind report demon-
However, the body called for policymakers strates just how difficult, but still possible, that
to accelerate permitting procedures for wind task is.™

Week 14 06•April•2022 www. NEWSBASE .com P7