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2024 Electricity Market: PPAs and Renewable Energy Challenges

Analysis of the electricity market in 2024, focusing on power purchase agreements (PPAs), renewable energy challenges, and emerging solutions.

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TechnologyClimate ChangeEnergy SecuritySustainabilityBusinessEnergyMarket

Afi Escuela

Pablo GuijarroAlexandra Cortés

What is the main conflict arising from the rapid development of renewable energy sources?: The conflict between supply security and meeting fluctuating demand is highlighted by the intense development of renewable energy sources.
What was the overall trend in electricity prices in 2024 and how did this affect businesses?: In 2024, electricity prices relaxed, easing the strain from 2021-2022. This supported moderation of inflation and helped businesses find stability in supply.
What are the key factors contributing to the slowdown in the signing of power purchase agreements (PPAs) in 2024?: Despite favorable pricing, there's been a drop in PPA signings in 2024 due to challenges in ensuring continuous supply and managing renewable energy production.
What emerging solutions are being implemented to address the challenges related to renewable energy supply and demand?: Hybrid agreements (solar and wind) and energy storage systems are emerging as solutions to stabilize supply and improve profitability for both buyers and sellers.
Which sectors are predominantly involved in long-term electricity supply contracts, and what types of energy sources are primarily used?: The pharmaceutical sector is increasingly signing long-term electricity supply contracts (PPAs), alongside tech, telecom, and retail companies.

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