UK Electricity Prices Double in a Year
Wholesale electricity prices have doubled over the past year, peaking at £82.75 per MWh on 24th June. Current supply-demand tightness has cemented in high oil prices which, in turn, has driven a substantial price increase in electricity and gas markets. Furthermore, the sterling is down, causing UK imports to be subject to high levels of […]
UK ETS launches with UKA Futures opening at £50 per tonne
Early pricing levels in the UK Emissions Trading System (UK ETS) suggest that big polluters may face higher carbon pricing than industries in the EU Reiss Hilton By Alice Grundy View full article here The UK’s Emissions Trading Scheme (ETS) has opened for trading for the first time, with the carbon price coming in at […]
Prime Minister receives new letter to remove VAT on green technologies
Bulb and over 30 industry organisations have sent a letter which is calling on the government to reduce VAT rates for green technologies, including solar and energy storage. If the VAT was reduced to zero – as the letter recommends – then this would boost consumer spending on green technologies, stimulate growth and create highly-skilled […]
The UK installed 545MW of Solar Panels in 2020
The UK installed 545MW of new solar photovoltaic capacity, according to analysis by Solar Energy UK, a 27% year-on-year increase compared with 2019. The new capacity additions took the UK’s cumulative installed capacity to 13.9GW at the end of last year, almost 500W higher than existing Government-released figures, said the association. Around 60% of new […]
Light at the end of the tunnel
The UK may still be raining and cold in March, but the UK solar industry at least the future looks positive. Risks are escalating, the threats are severe, and governments have largely failed to adequately protect their societies and economies. This is in regards to the international Climate Adaptation Summit, which appears to have done […]
UK 2021 Budget: £68m storage competition announced but solar notably missing
Despite the welcome news of a UK-Infrastructure Bank and green bonds, there were no commitments to fund solar and storage in chancellor Rishi Sunak’s 2021 Budget. Announced today, the Budget focused predominantly on continued support for those impacted by the COVID-19 pandemic lockdown, and the pathway out of it. While there was wider relief announced […]
Solar and wind met 30% of Britain’s electricity needs in 2020
From the Drax report we learnt there was an increase of a sixth on 2019, with solar and wind suppling over 100TWh of electricity. Last year was a bumper year for solar generation, breaking a number of records including peak generation hitting a high in April of 9.68GW. Similarly, wind had much to celebrate in 2020, including […]
VAT reversal over battery storage as pressure mounts
Another Battery Storage company AceOn has joined a call to reverse changes to VAT for the technology that came into effect in 2019. Following the changes, the VAT rate on home energy storage jumped from 5% to 20%, a move that Richard Partington, managing director of AceOn, said has “not helped the rollout of this […]
UK government considers space-based solar power for 24/7 Solar Generation
The UK government has commissioned a new study to look at the feasibility of space-based solar power. Originally featured in the work of science-fiction writer Isaac Asimov in 1941, as the cost of solar panels and space travel continue to fall a number of nations including the USA, Japan and China are looking into the […]
Renewable energy hit record growth in 2020 despite of COVID-19
Renewable energy installation such as Solar Photovoltaic Panels will hit a record high in 2020, according to the International Energy Agency, as the fossil fuel sector crisis continues amid the COVID-19 pandemic. According to an IEA report published on Tuesday, almost 90 percent of new electricity generation in 2020 will be renewable, with only 10 […]
