Solar Storage Live Event
The PowerGreen PPA Team attended Solar Storage Live at the NEC in Birmingham on October 17th and 18th. Here are some of our takeaways from the Conference:
- £300 billion global investment in solar globally, topping oil investments for the first time.
- 11 years ago coal supplied 40% of our energy – next year it will be 0%.
- 2022 saw a record breaking number of rooftop installations equaling more than the previous three years put together.
Graham Stuart, Minister of State for Energy Security and Net Zero, emphasized, “Solar is the cheapest form of renewable energy and we are committed to supporting it“.
How PPAs are driving the onsite solar market
Companies are experiencing increasing pressure, both from government regulations and customers, to reduce carbon emissions and adopt sustainable practices.
- With 42% of Fortune 500 companies committing to major climate milestones for 2030, the focus on environmental responsibility has never been stronger.
- The accessibility of onsite solar through PPAs, tailors to businesses of all sizes, offering a flexible and inclusive solution compared to large-scale offsite alternatives.
- Installation of onsite solar PVs delivers “additionality”, in which businesses directly contribute to the deployment of new renewables to the UK energy system, enhancing grid capacity and resilience.
REGO value continuing in upwards trend
Corporates are increasingly in the market for Renewable Energy Guarantees of Origin (REGOs) to assist achieving clean energy goals.
This graph shows all submitted REGO bids, therefore demonstrating that the savings you could receive under an onsite solar PPA are increasing further.
If you’re on a renewable contract in the UK, then your supplier has to buy enough REGOs to cover your consumption. This means you will likely be paying more for your renewable power than you have previously. A PPA provides renewable power at a lower cost and includes REGOs that do not induce an increase of your clean power price.
Source: Renewable Exchange | Nov. 15, 2023