“Many national and international investors are willing to develop new utility-scale projects, despite an increase in costs and an increasing volume of permits, but still below the averages of major European countries. This green revolution cannot disregard the definition of clear and consistent rules for system operators.”
THE STATUS OF AND THE POTENTIAL OF PHOTOVOLTAICS: EF SOLARE TAKES PART IN INDUSTRY STUDIES
The energy market is undergoing major transformations, generated especially by technological developments, the need for energy independence, and, of course, the continuous integration of renewable sources into the energy mix. Today, the renewable energy sector is at a turning point, full of great potential which, if realized, could make a strong contribution to the protection of the planet.
To become aware of the current status of renewables and propose a development direction, EF Solare continues to contribute to the realization of studies and research that can provide an in-depth look at the energy transition path. For this reason, in May, our CEO Andrea Ghiselli and Ettore Acampora, Head of Business Development & Energy Market Management, took part in the presentation of the IREX Annual Report 2023 and the Renewable Energy Report 2023 to discuss the status and development potential of photovoltaics, illustrating the activities undertaken by EF Solare to guide the growth of the sector.
IREX ANNUAL REPORT 2023
The report, published by Althesys in partnership with EF Solare and others, clearly shows that agrivoltaics dominated the development market in 2022, totaling 390 initiatives for 15.8 GW and 12 billion euros investments, which, together with traditional photovoltaics, accounted for 76% of all financial transactions in the renewable energy sector. This result certainly demonstrates that the market is active, and, despite the uncertain macroeconomic environment, it recorded a surge in the renewable energy projects subject to investments in 2022, which exceeded 38.9 GW, almost tripling the 15 GW of 2021, and activating investments for 41 billion euros, for a total of 958 operations: more than double those of the previous year.
“Many national and international investors are willing to develop new utility-scale projects, despite an increase in costs (LCOE) and an increasing volume of permits, but still below the averages of major European countries. Agrivoltaics has proven to be a successful approach to embark on an energy transition path integrated with the environment and in synergy with local communities: another reason why it now has higher growth prospects than traditional photovoltaics. EF Solare has always believed in this approach and therefore continues to develop agrivoltaic projects, also participating in a European project with the final goal of developing strategies and technological solutions to increase the competitiveness of agrivoltaics in Europe. However, this “green revolution” cannot disregard the definition of clear and consistent rules for system operators. To seize development opportunities and attract investments, it becomes necessary to harmonize regional regulations, simplify authorization processes, and adjust the auction mechanism to define the structure of the future energy market, ” said Andrea Ghiselli at the presentation event of the new IREX Annual Report.
RENEWABLE ENERGY REPORT 2023
This May also saw the presentation of the Renewable Energy Report 2023, created by the Energy&Strategy Group of the Politecnico di Milano. This Report showed that, despite encouraging results in 2022, the installation pace of new renewable plants in Italy is too slow compared to what would be needed to reach the overall targets of 125-150 GW by 2030. Regulatory uncertainty and misalignment between the European and Italian speeds do not allow effective growth in renewables: about half of the onshore photovoltaic and wind projects submitted in 2019 are still awaiting authorization.
Unlocking renewable energy authorizations and investments could generate between 310.000 and 410.000 jobs, contributing to the achievement of decarbonization targets and fighting climate change.
“As EF Solare, we will continue to work on improving and increasing our installed capacity, both through revamping and repowering and intense development activity, in Italy and abroad, where we expect to build and commission new plants during the year. In this growth path, agrivoltaics plays a key role, as it represents a non-divisive business model that makes solar energy production compatible with agricultural activity, generating positive externalities for all stakeholders and territories involved. Until now, the growth of photovoltaics in Italy has been mainly driven by small- to medium-sized installations. However, to achieve the decarbonization targets and contribute to meeting the national electricity demand by 2030, new large-scale plants need to be built: the utility scale will certainly be the most decisive segment to close the current gap. It is therefore essential to continue working on the development of a comprehensive and coherent regulatory framework with clear and reliable rules, which will create the growth conditions in this sector.” commented Ettore Acampora, Head of Business Development & Energy Management, during the presentation of the new Renewable Energy Report.