Russian gas is not needed: by 2030 solar energy will cost 10 times cheaper than "gas"

After Russia has reduced gas exports, the cost of energy in the said region has increased, according to the material. According to RYSTAD ENERGY report, Title Transfer Facility (TTF) gas prices in the Netherlands were 46 euros per MWh. They served as a benchmark for gas prices in Europe. This indicator increased after the invasion of Russian troops into the territory of Ukraine. The price of TTF at the time of the report was 134 euros per MWh, ie 187% more.

This winter, gas prices may not reach a maximum of 330 euros per MWh, as it was in August, but since military conflict is not stopped, Russian gas exports are unlikely to increase, and Europeans will have to pay more than their needs for heating . Analytics conclusion. Even with high energy prices, energy production in Europe in Europe has increased by 4%this year, since the region needs to cope with the fall in energy production due to the shutdown of nuclear power plants.

Due to the drying year, hydropower was also affected in the summer, and gas compensated for these losses. However, in 2023, the situation, as analysts expect, will improve, as nuclear power plants in France will again work and add 30 GW of electricity to the network. It is expected that by the end of 2023 the power of renewable energy sources in the form of solar and wind power plants will provide another 50 GW of energy.

The report states that over the next few years, when European countries will consider establishing more renewable energy capacities to reduce carbon emissions, the average capital costs for these installations will be reduced to 1. 3 euros per watts. Experts predict that the price of TTF gas will stabilize by the end of the decade and can be reduced to $ 31 per MWh. The cost of energy (LCOE) from gas power plants will be about 150 euros per MWh.

This is 3 times more than LCOE from solar power plants, according to the report. In order for gas to remain competitive as fuel, its prices should fall to 17 euros of MW, which analysts consider "unthinkable" for the current scenario. If the EU spends money on the construction of capacity to produce renewable energy and will be able to start these capacities for 2 years, then up to 100 GW of new generating capacities can be added by 2025. And in 3 years this figure will reach 333 GW.