about the project
Nationally and internationally, the focus on renewable energy supply as well as on electricity and gas cross-border interconnections is increasing. Industry, policy makers, transmission system operators and researchers have traditionally focused on renewable energy integration within one single sector - often electricity only. There is an urgency to move beyond this single-sector or single-technology focus in research, industry and public authorities and look at the transition as a complete redesign of the whole system.
The vision of RE-INVEST is to overcome the silo-thinking that characterizes traditional energy sectors. Renewable energy prices are decreasing faster and faster in e.g. wind power onshore and offshore, PV, solar thermal etc. Onshore wind power is the cheapest electricity source looking at LCOE, but wind power as well as PV and other renewables depends on domestic and international integration measures such as: power plants stopping (signaled in electricity markets), synthetic gas storage, large-scale heat pumps with thermal storage for district heating, small heat pumps, electric vehicles as well as energy storage and expansion of interconnectors.
How it will Develop
RE-INVEST develops novel methodologies for renewable energy investment strategies based on a two-dimensional interconnectivity approach. With key university, industrial, societal and energy investment partners, coherent analyses with state-of-the-art technology and strategy inputs are ensured. Energy system analysis tools combine the Smart Energy System’s cross-sectoral approach using infrastructures, energy storage and savings (electricity, heat and gas) with the cross-border approach.
The project builds on extensive experience with large-scale wind integration studies, use of electrofuels for heavy-duty transport and of cost-effective cross-sector storage options through advanced hourly modelling of all sectors using EnergyPLAN at Aalborg University. Aarhus University’s Network Analyses tool, an advanced method using parametric time series analyses, enables the creation of Pan-European energy systems based on weather patterns. These analyses can balance wind power and PV as well as the need for back-up power plants and international interconnections. In RE-INVEST, the method for combining these two approaches is developed, assisting a cross-border analysis methodology uniting the strengths of both: a total cross-sectoral hourly modelling, weather pattern analyses and an interconnected European system analysis.
From a starting point in a reference model of the current system, potential technology and cost developments in Denmark and Europe are mapped before engaging in use of extensive databases and the partners technology knowledge to construct robust pathways towards 2050. These developments represent different European contexts required in the analyses to establish a strategic decision-making background for energy sector stakeholders.
It is essential for our security of supply that we as a society have thought through what our energy system might look like. We need a coherent investment strategy for new technology, infrastructure and electricity and gas interconnections.
For example, Denmark uses between €5-10 billion annually on fossil fuels depending on international fuel prices. The project will help identify how we can spend less on fossil fuels and more money on investments in the energy system.
The political aim of the EU is to reduce greenhouse gas emissions by 80% in 2050. This requires huge investments. Therefore, it is important to identify the feasible and robust long-term investments that will keep costs under control.
Investments must take account of the fact that the price of biomass or electricity, for example, can fluctuate, as we know today in the case of oil.
The partners in the project are: Aalborg University, Aarhus University, Østfold Research, Stanford University, Frankfurt Institute for Advanced Studies, Danfoss, the Danish District Heating Association, Ørsted, EMD International, Energinet.dk, the Danish Energy Agency, Haldor Topsøe, HMN Naturgas, Kamstrup, MP Pension, Statkraft and Aalborg CSP.
Aalborg University: Brian Vad Mathiesen (Project Head), Professor, Tel.: +45 2944 0877
Aalborg University: Poul Alberg Østergaard (Deputy Head of RE-Invest), Professor, Tel.: +45 2947 5016
Aarhus University: Gorm Bruun Andresen, Associate Professor, Tel.: +45 2942 6179
Kamstrup: Steen Schelle Jensen, Head of Product Management, Tel.: +45 8993 1191
Danfoss: Jan Eric Thorsen, Director of DHS-TA Application Centre, Tel.: +45 30 58 04 44
HMN Naturgas: Frank Rosager, Head of Business Development, Tel.: +45 4055 1014
Innovation Fund Denmark investment: DKK 17 million. Total budget: DKK 27 million. Duration: 4 years. Official title: RE-Invest – Renewable Energy Investment Strategies – A two-dimensional interconnectivity approach
Follow the project on Twitter @ReInvestEU.