Renewables Auctions
In most parts of the world the least cost provider of new generation capability is now renewable – usually wind or solar. More wind and solar capacity is built worldwide each year than gas, oil, coal-fired and nuclear combined. This has been the case for many years now.
The rate of cost decline of renewable technologies recently has been incredible by any standard and, not by coincidence, a transition to renewable generating technologies is essential in order to address the climate crisis.
Governments are enacting policies to accelerate the transformation beyond the rate of changed achieved by power sector economics alone. Policies include carbon taxes, emissions trading systems, renewable energy certificate obligations, direct market interventions, renewable procurement auctions and other actions.
Renewables auctions are a policy tool of special significance, particularly in Europe but also in many other regions. It is essential that these auctions are designed on a bespoke basis to address the specific challenges and opportunities of each country concerned.
Easter Bay has extensive experience supporting the development of clean energy policy, designing renewables auctions, and supporting developers in auctions and via other routes to market to negotiate and secure PPAs.