Renewable power shares are outperforming fossil fuels in the stock market, but obstacles are still standing in their way. A new report produced by Imperial College London and the International Energy Agency (IEA) found that renewables offered investors higher total returns than fossil fuels, and had a lower annualised volatility, making them lower risk
McDermott continues its dialogue with renewable industry leaders to provide the latest market updates on the disruption, challenges and opportunities COVID-19 presents to the industry. This week, we focused on the energy storage market and hosted Chris McKissack, CEO at GlidePath Power Solutions. Glidepath was an early mover in energy storage. GlidePath is now
UK Power Networks (UKPN) is installing new steel core transformers at substations that are set to help support decarbonisation. The amorphous steel core transformers are high efficiency, with the distribution network operator (DNO) to replace around 15,000 transformers over time. This is set to save over 8,500MWh per year and result in a carbon
For the first time ever, more electricity came from renewables than fossil fuels throughout the whole of Q1 2020. During the first three months of the year, over 40% of Britain’s electricity came from renewable energy sources, with 30.6% coming from gas according to Drax’s newest Electric Insights Quarterly. This was bolstered by a
Double charging of battery storage is to end, as Ofgem approves changes to the Connection and Use of System Code (CUSC). The UK regulator announced last year it was consulting on the removal of Balancing Service Use of System (BSUoS) charges for energy taken from the grid by storage assets. BSUoS charges allow National
The global energy transition is happening faster than the models predicted, according to a report released today by the Rocky Mountain Institute, thanks to massive investments in the advanced-battery technology ecosystem. Previous and planned investments total $150 billion through 2023, RMI calculates—the equivalent of every person in the world chipping in $20. In the first
The Conservative Party has pledged a suite of new policies comprising a ‘net zero package’ which it said would put “21st Century Conservativism” at the heart of the government’s green agenda. But the suite of policies, some of which had been previously announced, has been criticised by the sector for failing to address the challenge
In case you missed it, EDF considered yesterday an opportune time to bury some bad news. It evidently wasn’t wrong, judging by scenes in Westminster yesterday evening, but the French energy giant still had a slightly difficult morning to contend with. Yesterday morning EDF confirmed that not only was its flagship UK nuclear project, Hinkley
Coal’s contribution to UK electricity generation fell to historic lows in the second quarter of this year, official government statistics have shown. Fresh electricity generation stats, released by the Department for Business, Energy and Industrial Strategy today, show that coal contributed just 0.6% of the UK’s power demand in the three months ended June 2019,
EDF’s Hinkley Point C nuclear project is at greater risk of running 15 months behind schedule and could cost the firm up to £2.9 billion more than previously estimated, the French power giant has confirmed. In a statement this morning, EDF said that following the milestone completion of the nuclear island ‘common raft’ in June