Something wonderful has happened during lockdown! By midnight tonight the UK will have undergone two months of electricity generation without using coal. Not only does this show the drop in energy use since we have been in lockdown but also the transformation of the electricity sector in the last ten years.
Ten years ago Stephens Scown set up its renewable energy team, a niche sector which saw the huge advantages in assisting clients to deliver renewable energy projects from wind and solar to anaerobic digestion and hydro. Since that time we have delivered hundreds of renewable energy projects for clients and assisted in the energy transformation.
When we set up the team, just 3% of the UK’s electricity came from wind and solar, whereas now renewable energy is responsible for 37% of electricity supplied to the network, an achievement many thought was impossible.
So what’s next for renewable energy?
Renewable energy is a large part of the Coronavirus recovery plan. The International Renewable Energy Agency (IRENA) has produced a Global Renewables Outlook which highlights that the decarbonisation of the energy system supports the recovery not only through achieving climate change targets but also by creating resilient and inclusive economies and societies.
Renewable energy based recovery will provide investment opportunities, jobs and improvement in welfare. We will see greater uptake in smart energy systems, energy efficiency solutions, electric vehicle charging, energy storage and more renewable energy generation through solar and wind.
“Build Back Better” means just that; we need more renewable energy generation and the continued drop of fossil fuel use going forward.
Renewable energy provides an opportunity for green investment and there are plenty out there ready to invest. A new survey conducted by application developer Giki, found that more than half of UK adults are considering adopting a more eco-friendly lifestyle after the lockdown, and we anticipate that businesses will be the same.
As always, the energy team at Stephens Scown are here to assist with the green recovery offering experts in financing, developing and the smart green transformation.