Is the Future of Renewable Energy Already Upon Us?

Renewable energy sources have gained notable traction in the past few years that they have already taken their share of the spotlight in terms of many countries’ energy planning. A few years ago, integrating renewables in the overall mix of a country’s energy sources was almost next to impossible: The economics of doing so were challenging, and the impact on the electricity grid of adding too much capacity from renewables (like solar or wind) was unknown yet unsettling.

Today, the concerns of those days are gradually being eradicated by the tremendous development that renewable energy sources have undergone. There has been a remarkable reduction in prices among photovoltaic cells and wind turbines, making renewable power cost-competitive vis-à-vis traditional generation. In fact, a recent report issued by the World Bank’s Energy Sector Management Assistance Program (ESMAP) declares that “with the right combination of new policies and investment, countries can integrate unprecedented shares of variable renewable energy into their grids without compromising adequacy, reliability or affordability.”

While this observation is undoubtedly exciting, realizing it will require massive amounts of adjustment and fine-tuning not only on the part of infrastructure but also, and more importantly, in thinking. Opening inroads into a higher level of renewable energy generation will entail grid modernization, adoption of new technologies, revised business models for utility providers and updated policy and regulatory framework. Moreover, as per the insights of ESMAP, to ensure the success of the transition, countries should work towards strengthening interconnections between areas, diversifying the contribution of different renewable sources from various location, and building complementary generation and demand response technologies.

While the above are, to some extent, doable, it will take years, or even decades to set up the conditions conducive to higher levels of renewable energy generation. Pushing such initiatives forward will require the collaboration and the agreement of myriad entities and agencies, and will necessitate years upon years of infrastructure construction and refurbishment. Renewable energy generation itself is still undergoing a feverish level of research and development in order to optimize and, ultimately, stabilize it.

As renewable energy technologies are being developed and constructed, and as the necessary modifications in policies and regulations are drafted and approved, other power-related technologies, like mobile electricity generation systems, will be able to provide the necessary support. Mobile power technologies are designed and engineered to keep the electricity supply buoyant in cases when conventional or renewable sources meet challenges in sustaining the electricity demand. As permanent power infrastructure are being improved and refurbished, and renewable energy generation facilities enhanced, temporary power stations can provide the electricity supply to fill in the gaps in energy production.

With rental power plants on board, the perceived limitations of conventional and renewable energy sources can be overcome, and the power can be bridged until the mentioned sources regain their stability and reliability. In this context, temporary power plants find their maximum benefit in being used as supplementary or back-up power, while permanent energy facilities are being constructed or refurbished, or when alternative energy sources are being advanced and improved.

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PRESS INQUIRIES

Robert Bagatsing

Altaaqa Global

Tel: +971 56 1749505

rbagatsing@altaaqaglobal.com