2024 m. rugsėjo 10 d. 16:34
Energy experts unite: Discussion on electricity transformation and necessary investments in the Baltic states
2024 m. rugsėjo 10 d. 16:34
Lrytas.lt
The Baltic electricity grid has undergone significant changes in recent years, driven by breakthroughs in solar and wind power generation. Regrettably, renewable energy is unpredictable and it is impossible to know precisely how much electricity will be generated in the coming days. Therefore, finding ways to balance the variability of renewable energy production with the necessary energy demand is essential. According to energy experts, a crucial next step in the energy sector is properly integrating Grid scale energy storage systems (ESS) into the grid. To create fair, easily accessible markets for new flexible resources, policymakers and responsible energy authorities must first implement certain decisions and incentives.
It is projected that over the next two decades, the global ESS industry, including smart lithium-ion storage units/batteries, is expected to grow from 550 GWh in 2022 to 7,782 GWh by 2040.
From February 2025, when Lithuania will synchronize with Central and Western Europe, electricity imbalances will only increase further, and uninterruptible electricity use will require many more smart flexibility devices – such as smart battery-storage devices – so we need prepare good investment climate for investors otherwise it will be big issue regarding grid stability. On the other hand, due to an uncertain regulatory environment, significant investments in grid-scale ESS are currently being lost, or not reaching our country and neighboring Baltic states.
The still unclear regulatory environment for batteries and storage discourages international investors, which could lead to significant electricity supply disruptions as early as next year.
A collective approach from all stakeholders is the best solution to such emerging challenges. Therefore, business, legal, and energy development experts decided to invite Baltic energy specialists to a virtual discussion titled GRID SCALE ESS (Energy Storage System) Financial Environment in the Baltics: What Are We Missing Today? Next Steps for 2024–2034, scheduled for September 11th at 10 a.m., to consider and discuss what actions should be taken to make the Baltic countries a favourable region for the development of energy storage systems.
On the initiative of Karolis Kiguolis, international energy expert and founder of Linea Ignis, and Robertas Juodka, founder of Noewe Legal and Snieguolė Matonienė, Executive Director of the Estonian Chamber of Commerce in Lithuania, a unique virtual event is being organised for Baltic energy professionals and all other people interested in the energy sector. It will aim to provide a well-targeted discussion on the strategies needed to attract investment in ESS.
According to Karolis Kiguolis, one of the event organisers, there is no shortage of experts in Lithuania and other Baltic countries who understand how and what changes need to be made in the energy sector. These experts can apply the experience and practices of other, more advanced countries in this field to their region.
This event will address unanswered questions and challenges, aiming to lay a solid foundation for the Baltic states’ flexible and secure energy future.
Karolis Kiguolis explains further: „To achieve the goals set for renewable energy, coordinated plans must be developed and aligned. The relevant national authorities, including Government, regulators and transmission and distribution system operators, could work together to prioritise the development of coordinated plans. These coordinated plans should also outline how barriers to flexibility will be eliminated.
It is evident that together, we can meet the challenges of decarbonisation and the significant reductions in carbon emissions. However, the time required to change the current situation depends entirely on our efforts. This is why we invite all Baltic energy professionals to discuss energy transformation, the imbalance in the development of tools and the financial risks of batteries, and to strive for effective results together“.
In addition to the organisers, the event will feature insights from specialists such as:
· Oskaras Alšauskas, an energy analyst from the International Energy Agency; · Donatas Matelionis, Head of the System Management Department at Litgrid; · Karl Kull, Head of Evecon, a company developing wind and solar parks in the Baltic states; · Gatis Junghans, a board member of the energy company Baltic RCC; · Darius Daubaras, former Chairman of the Supervisory Board of Ignitis Group; · Tauno Hilimon, an expert on energy markets at the Estonian Ministry for Climate Affairs.
The virtual, free, three-hour event will take place on Zoom. You can join using this link:
