Simulation study identifies investment needs for 100% renewable energy generation in Germany, highlighting significant implications for energy economics.
Key Points
The research aims to model the investment and storage requirements for achieving 100% renewable energy generation in Germany.
Utilized hourly generation and consumption data from 2022-2025
Simulated various combinations of renewable generation and storage capacities
Evaluated investment costs and calculated electricity generation prices
Identified optimal storage size as 2700 GWh covering average consumption for two days
Average electricity costs calculated at €0.09/kWh
Noted that storage capacity is only utilized for ~5% of the year, indicating potential for multiple uses