The article discusses how climate change might exacerbate supply-demand mismatches in power systems heavily integrated with wind and solar energy, leading to increased electricity costs. Utilizing a dispatch optimization model, the study identifies that many countries will face significant rises in average hourly costs during extreme periods due to climate-induced pressures. Specifically, around 47 nations, accounting for 43.5% of global electricity production, could experience at least a 5% increase in these costs. However, the authors propose that tailored, nation-specific strategies could mitigate these financial impacts, facilitating greater resilience in future energy systems.
In most countries, extreme periods of high electricity costs are likely to become more frequent and costly, requiring additional investments in flexible energy capacities.
Our analysis indicates that 47 countries, representing 43.5% of global future electricity generation, could see over a 5% increase in average hourly costs during extreme periods.
By employing tailored country-specific strategies, we found that it is possible to mitigate the rising costs associated with climate change's impact on power systems.
The increasing reliance on wind and solar energy, while necessary for sustainability, poses challenges in maintaining a balanced supply-demand dynamic in future power systems.
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