14 July, 2023 – At the current growth rate of renewables, it is predicted that by 2030 a third of the world’s electricity will be supplied by wind and solar generating up to 14,00TWh of electricity. Currently, the global generation figure stands at 12% but it is expected to rise as renewable electricity is set...
11 July, 2023 – Following extreme volatility in the energy market over the past year, it is important for businesses to understand the complex factors that contribute towards such high energy prices. Even as energy prices appear to fall, it is unlikely the market will return to pre-covid levels any time soon.
10 July, 2023 – Equity fund DIF introduces a hybrid PPA for solar covering a 55MW solar farm with 40MW/80MWh of battery storage in Bedfordshire. The hybrid PPA will provide secure and bankable revenue streams for both solar and storage systems helping optimise and increase the revenue output of solar farms.
10 July, 2023 – National Grid ESO reports that achieving net zero in the power sector before the 2035 target is possible. The “Leading the Way” and “Consumer Transformation” scenarios predict 2034 for reaching net zero emissions, a year early.
7 July, 2023 – Permutable AI has created an AI language model which has found that less than 20% of the FTSE100 are on track to meeting their climate targets and ultimately reaching net zero.
6 July, 2023 – PWA Planning Group announce a 50MW battery project in Paisley, Scotland, has been approved by Renfrewshire Council. The battery will be located and stored within an existing gasholder frame, which is a Category A listed building.
6 July, 2023 – A report by Cornwall Insight predicts that power prices will not shift below 2022 levels until the late 2030s. This is due to the surge in demand for power generation because of the UK’s push to decarbonise. Electric heating and electrified transportation are driving this trend.
4 July, 2023 – Ofgem warns energy firms that they should retain profits instead of paying out dividends to ensure they can remain robust to future price shocks. The financial stability requirements of Ofgem aim to prevent suppliers from collapsing, like in 2021.
30 June, 2023 – The Government‘s Boiler Upgrade Scheme, aimed at making household heating more environmentally friendly, has had a disappointing start in its first year. The target was to issue 30,000 grants, but only half of this figure has been achieved. Experts believe this is due to a lack of installers and costs of...
30 June, 2023 – Energy bills are set to remain high for the foreseeable future, reports Centrica chief executive Chris O’Shea. A new price cap will see households with a typical energy usage pay £2,074, which is still £800 more expensive than two years ago.
