TITLE:
Results, Reflection and Trends on the EU27 and Portuguese Policy in Renewable Energy
AUTHORS:
Nuno Domingues, Ricardo Raimundo
KEYWORDS:
Renewable Energy, Decentralized Generation, Market Incentives, Strategy, Energy Business
JOURNAL NAME:
Modern Economy,
Vol.11 No.12,
December
31,
2020
ABSTRACT: Decentralized distributed power generation and
energy production (simplified as Decentralized production) has been playing an
increasingly important role in the consumption - production, energy
relationship, as well as the promotion of renewable energies and even in
changing consumption habits. To achieve the objective of sustainable
development, microgeneration has an essential contribution to its achievement,
and any support for this initiative is understood as a good investment for the
future. The
present paper reflects on the electricity generation market in Europe EU-27 and
in Portugal, namely from where does import energy, what taxes and how dependent
are. Under an economical perspective, the present paper proposes mechanisms to
promote decentralized production effectively. Also, the present paper
establishes the advantages of decentralized electricity generation over
centralized generation, based on the EU-27 data and on comparisons. It is possible to conclude
that the share of renewable energies in the mix is starting to really be high
and is getting an important role, despite the availability of fossil fuels and
the implemented energy system to supply the fossil fuels. It is recommended
that traditional fossil fuels big power plants be phased out progressively
ASAP. Carbon Capture and Sequestration is an alternative during this period,
turning them to low-carbon plants. However, decentralized production is more
effective in environmental and economic vectors. At a system level, security of
supply and flexibility of renewable energies are more guaranteed in
decentralized production.