The European energy market currently has 3 main issues:
- The European Union has set a 20% target to generate 20% of its energy consumption from renewable energy sources by 2020.
- Europe has around 65-70 GW of coal-fired plants which will be retired by 2023 as a result of tighter CO2 emission restraints set by the EU Industrial Emissions Directive.
- Following the incident of three catastrophic nuclear power plant accidents (most recently the 2011 Fukushima nuclear disaster in Japan) many countries in the EU have moved to begin a phase-out to decommission all nuclear facilities.
All 3 issues means that EU countries need to secure new sources of low cost, non-intermittent renewables that help achieve the 2020 RE targets whilst reducing the cost of energy and ensure long term supply of uninterrupted power.
The CSP with Storage solution developed by TuNur can provide significant benefits to Europe:
- Hedge against volatile fossil fuel price
- No intermittency related grid-integration issues
- Contribute to the EU Renewable Energy targets and increased consumer demand for green power
- Predictable production profile over the course of the day
- Focus on the peak periods of demand and the “green” electricity market in Europe