Integrating Renewables Comes with Various Challenges
Disruptive technologies such as renewable energy (specifically wind and solar) and storage are shaping up future energy transition. To meet the climate change mitigation goals, electricity systems across various parts of the world are undergoing a major overhaul to accommodate these new resources, however, there are inherent challenges that need to be mitigated today for a sustainable and greener tomorrow.
Some of these challenges include grid integration due to intermittency of resources, estimates around electricity generation and potential tariffs along with overall commercial viability that need to be effectively assessed for the benefit of any market participant. Additionally, proper market mechanisms and policy structures are required to justify investment into flexible capacity for RE integration. These challenges require a suitable modelling framework to analyze these aspects from multiple perspectives.