Report: Innovations reduce cost of energy
KIC InnoEnergy and Berliner Verkehrsbetriebe Associates (BVGA) have launched a joint report, ‘Future Energy Costs: Coal and Gas Technologies’ to help reduce energy costs.
The Europe-wide study has assessed how technology innovation could help reduce the cost of energy from both gas combined heat and power (CHP) and coal plants.
The report has also detailed the changes required to allow coal and gas-based power generation to compete with cleaner power sources on the global energy market.
The study analysed 40 European combustion system innovations. From that list, 28 technologies were identified with the potential to reduce the levelised cost of energy (LCOE) by 17% in gas CHP and 27% in coal plant by 2025.
The report identified innovations that could allow coal and gas CHP plants to reach their financial investment decisions in 2020 and 2025.
Marcin Lewenstein, KIC InnoEnergy thematic field leader, clean coal and clean gas technologies, said: “This report is important as it helps us to understand how to best enhance the capabilities of coal and CHP plants.
“The findings are paramount in showing how we can help improve the running and LCOE of existing infrastructure. The technologies identified will have a big impact in limiting coal emissions, making sure systems are safe, and adapt to market challenges.”
Bruce Valpy of BVGA said: “We’re delighted to see that innovation to reduce costs and greenhouse gas emissions are as important in other sectors of the energy system as they are in the renewables sectors.
“We are committed to enabling innovators to target where they can make the biggest difference. We also want to support informed discussion on future energy policy and work like this aids comparison between sectors that previously it has been hard to compare.”
A full copy of the report can be accessed here.
