TALLINN - On Jan. 22-23, the Estonian Ministry of Climate is to organize a hackathon in cooperation with the state-owned energy group Eesti Energia, the company Energiasalv developing Estonia's first large-scale energy storage project, and other market participants, with the event focusing on the role of energy storage in meeting Estonia's target to produce 100 percent of the country's energy from renewable sources.
Energy experts from Estonia and abroad have been invited to attend the event, and during the hackathon, input will be developed for use by the Ministry of Climate in formulating suitable means for storing energy.
Energy Hackathon 2024 will bring together renewable energy developers, financiers, regulators, business organizations, universities and ministries of other countries to collectively find solutions for introducing the storage of energy. The goal is to ensure a transition to renewable energy and achieve carbon neutrality in the most cost-effective way.
Secretary General of the Ministry of Climate Keit Kasemets said that the energy hackathon is an important step towards finding the best solutions for promoting energy storage in Estonia in discussions with market participants, government agencies, universities, and foreign experts.
"Estonia has set an ambitious goal of producing all the electricity consumed in the country from renewable energy sources by 2030. Developing energy storage solutions is of critical importance, because it helps to cope with the unpredictability of renewable energy, ensures the stability of the electrical system, and stabilizes electricity prices," Kasemets said.
"Storage allows to smooth out the highest electricity price levels for consumers while supporting the increase in the share of renewable energy. It's most beneficial for society to first remove as many legislative barriers as possible that hinder the development of storage. Then we can see which storage methods are invested in even without any subsidies. Subsequently, we can discuss whether, in addition to market-based storage, there is a need for any other types of storage that cannot be built in Estonia based solely on the signals coming from the market," member of the management board of Eesti Energia Kristjan Kuhi said.
Peep Siitam, leader of Energiasalv, a strategic EU energy project that will see a water storage device built in Paldiski, underscored that adequate energy storage helps ensure affordable and clean electricity for consumers with high security of supply.
"However, in order to make it happen, it's necessary to remove market distortions that currently increase risks, make capital costs more expensive for Estonian companies, and thereby increase the cost of electricity production," Siitam said.
Both days will feature a public seminar and discussions in expert working groups. Energy experts, both from Estonia and abroad, are invited to make presentations and participate in working groups. During the two-day hackathon, the focus will first be on the challenges of the current system, best practices from other countries, and the analysis of regulatory solutions in Estonia. On the second day, suitable financial measures for both small and large-scale electricity storage facilities will be examined, and the mitigation of risks from a societal perspective will be discussed. The seminar's presentations can be watched live on the Ministry of Climate's YouTube channel.
The detailed schedule and the link to the YouTube live broadcast are available in Estonian on the Ministry of Climate's website at https://kliimaministeerium.ee/energiahakaton-2024 .
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