Renewable energy cost comparable with coal for Turkey by 2030: Report
DHA PhotoIt is possible for Turkey to meet half of its energy needs from renewable energy resources for around the same cost as its current coal-focused energy strategy, according to a new report.
“There is no reason for Turkey not to choose to invest in clean energy to feed its increasing energy need,” World Wildlife Fund Turkey Chairman Uğur Bayar said during the launch of “Turkey’s Renewable Power” report prepared with the cooperation of Bloomberg New Energy Finance (BNEF) and WWF Turkey.
The study shows that an alternative approach, based on building up generation capacity in renewables, could be achieved at comparable costs, while also benefiting Turkey’s environment and reducing its dependence on fossil fuel imports.
According to the report, the cost of Turkey’s existing energy strategy that prioritizes hard coal and local lignite production would be around the same, approximately $400 billion, as a renewable energy-based alternative by 2030.
The expected decline in wind and solar power energy costs in the next 15 years will make this possible, the report also states.
Baydar said a positive answer to the question of whether Turkey could achieve a cleaner resource distribution in energy production by 2030 at a good price would be a game-changer for the sector.
“The results could mean the end of the most popular legend about renewable energy; the belief that renewable energy is an expensive and unattainable alternative,” he added.