After two and a half challenging years, the Market4RES «Post 2020 framework in a liberalised electricity market with large share of Renewable Energy Sources (RES)» project, coordinated by SINTEF Energy Research, has finally arrived to its finishing point. The project Consortium is happy to be able to share its results and conclusions.
Setting the 2020 climate and energy targets in 2007 was an important milestone. This indicating a paradigm shift for the European power industry, which used to be one of the most conservative sectors.
Massive efforts were made to promote an accelerated integration of Renewable Energy Sources (RES) in Europe.
The support schemes for RES technologies have been a success story, resulting in considerable volumes of RES added to the generation mix.
Need to modify the existing European electricity market design
The market interventions on this scale have however led to some adverse effects of the financial subsidies and significant penetration of electricity from renewable energy sources (RES-E). This highlights the need to modify the existing European electricity market design. This in order to guarantee sustainable framework conditions in the long-term, both for the market-compatible integration of further RES-E technologies and for the maintenance of adequate levels of firm electricity generation capacity.
The objective of the project Market4RES was to investigate, provide recommendations and contribute to the debate on the potential evolution of the EU Target Model. And enabling the integration of renewable electricity in the market by supporting the implementation of the 2020 targets and their follow-up towards reaching the decarbonization goals of 2050. The project was co-funded by Intelligent Energy Europe (IEE) programme.
The project results were presented at open Final Event, organised in Brussels 2016-10-20, where the main outcomes of the project were presented to more than 50 participants from the European Power Industry. The event included a panel debate with high-level participants from WindEurope (Belgium), Comillas Pontifical University (Spain), ENTSO-E (Belgium), EURELECTRIC (Belgium), DG Energy (European Commission), and ERG SpA (Italy).
Market4RES Final Report «Recommendations to policy makers on electricity market design options» can be downloaded.