Last year’s figures marked the first time the market saw sustained, subsidy-free growth across residential, commercial and utility scale projects, according to trade body Solar Energy UK.
The news comes on the day a private equity investor in the English North East announced plans to jointly develop a 1.4 GWp solar portfolio with Canadian Solar.
Focusing on the big picture is always challenging, particularly in light of the current all-consuming coronavirus pandemic. However, there are some key issues related to the U.K. solar sector, which will feature significantly on the domestic agenda in the months ahead.
The London-based developer revealed blockbusting annual figures which show it is debt free, has almost £20 million in the bank, raked in more than half that figure in net profits in 2018-19 and expects twice as much in a year’s time.
Renewable energy industry bodies are hailing the U.K. Energy Minister’s comments today that power should not be provided to the country’s electricity grid for free. She was referring to the ongoing debate over whether or not to end solar export tariffs.
Overall, the United Kingdom reached a cumulative installed PV power capacity of 12.93 GW as of the end of August. Around 45% of this is represented by solar parks exceeding 5 MW in size, while another 20% come from residential installations up to 4 kW. Newly installed PV capacity for the first eight months of this year was just 155 MW.
With the U.K. government apparently preparing to deal another blow to solar by abolishing export payments for small-scale generators, the contribution of the country’s agricultural sector to the industry could be more important than ever.
Despite many still believing green energy tariffs are more expensive, U.K.-based uSwitch finds that half of the 10 cheapest tariffs on the market are termed eco-friendly, thus challenging the big six energy suppliers.
While they remain the dominant source of energy supply, there was a shift away from fossil fuels to renewable energy in the U.K. last year. The country is “comfortably” on track to exceed its 30% renewables target, says the government.
The U.K. Government is proposing closing both generation and export tariffs for renewables on March 31, 2019. The country’s solar trade association calls for clarity on the policy framework going forward, for both industry and potential investors.
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