Abstract for: 100% Renewables in power generation
The power industry is changing worldwide from fossil-based technologies to renewables, mostly fostered by governments that seek to mitigate greenhouse gas emissions. In particular, though solar and wind energies are favoured these are characterised by their intermittency and seasonality which hinder electricity security of supply. In this context, and given multiple uncertainties that include technology diffusion, this paper uses modelling-based scenario analysis for investigating different electricity market conditions. System dynamics has been considered to analyse the business as usual scenario and compare this with a 100% renewable energy supply scenario. This paper concludes that for the Colombian case, a large hydroelectric component and its complementarity with solar and wind, while helping security of supply, reduce prices and increase energy efficiency.