WHERE NEW ENERGY NEEDS TO BE

Siemens study: Europe can save EUR 45 billion in its pursuit of renewables

May 15, 2013 (Siemens)

“Building and expanding renewable energy installations in the wrong locations is costing EUR 45 billion in unnecessary investment…Potential savings on a magnitude of 4-5 times the annual investment in solar and wind power plant construction in Germany are possible…If installations were built at the sites in Europe that offer the highest power yields, some EUR 45 billion of investment in renewables could be saved by 2030…

“In an ongoing study, Siemens is working in cooperation with the Technical University of Munich to examine energy systems worldwide with the aim of ascertaining their utilization rate of resources, reliability of supply, sustainability and cost-efficiency. Based on the realization that billions are being wasted every year as a result of inefficiencies in worldwide energy systems and markets, the study intends to precisely identify and quantify these losses, and to propose solutions…[at] the World Energy Congress (WEC), to be held in Daegu, South Korea in October 2013.”

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“Siemens has spotlighted four main levers for optimizing energy systems worldwide that can be more or less effective depending on the regional characteristics of the power grids and the power plant fleet…[1]Local optimization of renewable power installations…[2] Enhancing the efficiency of the power system as a whole…[3] Improvements in the power plant mix…[and, 4] More use of electric power for energy needs…

“Energy systems around the world vary broadly owing to their regional conditions, and are constantly changing…Siemens is examining these regional situations with allowance for predicted future developments, and identifying the implications for neighboring energy markets. One of the aims is to determine what approaches are most suitable from national and global economic perspectives for creating reliable and sustainable energy systems with high efficiency but still at affordable power prices…”

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