In the three years after countries signed the landmark Paris Agreement, the UK nearly doubled its public finance support for fossil fuel projects. A new report shows the UK spent an average of £1.3 billion annually on the projects since countires agreed the climate deal. In contrast, in the same period to the end
FRANKFURT (Reuters) - The use of batteries for energy storage is expected to grow faster than that of other flexible assets in the period to 2030 and beyond, as renewable energy generation expands, consultancy Wood Mackenzie said in research published on Wednesday. Battery storage will increase to 26 gigawatts (GW) by 2030 from 3
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
Adding another Pylontech battery to a home battery system with a Victron inverter.
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
With the inclusion of battery energy storage into new building codes and safety standards, it’s obvious just how mainstream storage is today. Electrochemical batteries have been around for more than 100 years and solar photovoltaic (PV) panels have been in use for half a century. During the early days of solar, users deployed PV
While COVID-19 looks set to hurt renewable growth in the short term, it will not halt it according to a new report by the International Energy Agency (IEA). In the agency’s Renewable Market Update report, it shows that globally there will be 167GW of renewable power capacity added in 2020, a 13% drop from
Changes in public policy are still needed to encourage a switch from gas boilers to hybrid systems, but the Future Homes Standard should be implemented now. In a piece looking at the switch to low-carbon electric and hybrid heating systems, chief executive of Centrica Consumer Sarwjit Sambhi, argued that there is no reason to