Issues in power generation and future prospects

Energy transition rapidly proceeds along megatrends of decarbonization, decentralization, and electrification with increasing variable renewable energy (VRE). High VRE penetration requires more flexibility and energy storage to stabilize the power grid system and offset excess power generation. The role of conventional power generation system is going to change to accommodate the international megatrends considering Japan-specific circumstance and constrains. Nuclear power plants are expected to be stable, reliable, low-carbon, and immediate (unknown term) baseload power source corresponding to constant demands of the industry sector while they should gain public acceptance. Thermal power plants have a key role as spinning reserve and should expand flexibility with reducing CO₂ emission by applying alternative low-carbon fuels and carbon capture utilization and storage technologies. Since more than 25GW existing pumped storage hydropower stations are attractive as electricity storage, they should be modified by improving operability and downsizing to respond to real-time electricity market.