Portuguese Market Outlook up to 2040

APREN - Portuguese Association of Renewable Energies developed, in partnership with the consulting firm Poyry, the study "Portuguese Market Outlook up to 2040", an analysis that aimed to identify the most adjusted path for the growth of the Portuguese electricity system until 2030-2040. 

 

The study shows that the difficulties of investing in renewable technologies do not essentially result from the technical or economic aspects, but from the market design. It also stresses that marginal markets are becoming increasingly volatile, thus failing to ensure the predictability and stability that provide adequate investment signals for both renewables and power / energy capacity reserve / control systems.

 

The report also points out that renewables are competitive when compared to the marginal cost of fossil fuels, and even with low CO2 value, they will be the most effective path for development.

 

At the moment, Portugal faces the great challenge of achieving the decarbonisation objectives agreed with the European Union by 2030 in the most cost-effective way possible. As we know, energy is one of the engines of the economy, both on the development and employment side that the line provides, and in terms of cost reduction for consumers, so this subject deserves the most attention by APREN.

 

At a time when Brussels has just presented new targets for renewable energies by 2030 and foresees that all member states develop a National Energy and Climate Plan (PNEC), it seems to us the ideal moment to present this study, which consolidated some important information for the sector and that will be instrumental in helping to define the path that can lead us to achieve the goals of the Paris Agreement, so important to reverse the risk of climate change.