MNI China Daily Summary: Monday, February 10

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POWER: Solar Energy UK Warns Policy Caps Could Stall £26bn in Renewables

POWER
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Solar Energy UK has warned that policy caps could jeopardise £26bn of investment in solar energy and battery storage, potentially driving up energy costs and stalling progress toward clean energy goals, the association said.

  • The UK's solar capacity stood at 20.2GW by the end of 2024 and is expected to rise to 47GW by 2030, with an additional 9-10 GW from rooftop solar.
  • However, deployment slows dramatically post-2030, with only 22.4GW of new large-scale solar by 2035.
  • Additionally, battery storage is set to grow from 5GW today to 27.1GW by 2035, but only 1.6GW is planned beyond that, indicating a sharp decline in pace.
  • And developers who are facing grid connection offers for 2031-2033 are being told their projects may not be needed.
  • The association suggests that the 2035 cap of 17GW for transmission-connected solar should be raised, alongside more allowances for battery storage.
  • Failure to act could lead to higher energy prices for consumers, reduced competition in CfD auctions, and missed clean energy targets.
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Solar Energy UK has warned that policy caps could jeopardise £26bn of investment in solar energy and battery storage, potentially driving up energy costs and stalling progress toward clean energy goals, the association said.

  • The UK's solar capacity stood at 20.2GW by the end of 2024 and is expected to rise to 47GW by 2030, with an additional 9-10 GW from rooftop solar.
  • However, deployment slows dramatically post-2030, with only 22.4GW of new large-scale solar by 2035.
  • Additionally, battery storage is set to grow from 5GW today to 27.1GW by 2035, but only 1.6GW is planned beyond that, indicating a sharp decline in pace.
  • And developers who are facing grid connection offers for 2031-2033 are being told their projects may not be needed.
  • The association suggests that the 2035 cap of 17GW for transmission-connected solar should be raised, alongside more allowances for battery storage.
  • Failure to act could lead to higher energy prices for consumers, reduced competition in CfD auctions, and missed clean energy targets.