Hybrid. Connecting opportunity to growth As the global energy sector moves from being dependent on fossil fuels to renewables with an increasing electricity demand, it is poised for massive growth and transformation. Considerable opportunities are opening up for those who can take renewables to the next level. Vestas’ hybrid power plant solutions are one of the keys to unlocking new business models and revenue streams in this dynamic new environment. The future is now In many markets, hybrid power plants based on wind and solar generation, and electrical storage are already being realised. The need for a stable grid The share of variable renewable energy is increasing, reaching double-digit penetration in many markets in the next five years1. To ensure grid stability, renewable solutions must meet the variability challenge; adapting to and mitigating evolving grid integration challenges. Commercial imperatives At the same time, commercial schemes for renewable energy power plants are evolving. Policy makers favour affordable energy transition, rewarding solutions that contribute to the stability of the energy system. The ability to react to a given market’s demand patterns and energy price fluctuations is critical to business case certainty. Exploiting viable technology Technologies complementing wind energy in hybrid power plants have reached maturity levels that make economic sense under many market conditions. Advances in energy management systems and electrical storage can now create synergies that ensure the necessary system integration. 2 1According to the International Energy Agency study: IEA, Renewables 2017
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