More than £56m has now been invested in commercial-scale renewable energy generation projects developed by businesses, farmers, landowners and communities across Lancashire, according to figures released today.
The sixth annual Energy Entrepreneurs Report from SmartestEnergy reveals there are now 150 sites, including wind turbines, solar farms and hydro projects, outside of the traditional energy supply sector in the region. Together they generate £32m worth of electricity a year and enough to power more than 280,000 households.
The combined capacity of the projects – 236 megawatts – makes Lancashire the 17th largest county in Great Britain in terms of independent renewable generation.
Across Great Britain, the Energy Entrepreneurs Report shows more than £227m was invested in 400 new independent renewable energy projects in 2017.
However, as renewable subsidies continue to fall away the pace of growth in the sector was the lowest seen since the report was launched in 2012.
With the Renewable Obligation Scheme closing to new projects last year and the Feed-in Tariff scheme due to close next March, the report highlights how energy entrepreneurs are now actively exploring new ways to make investments financially viable as they look ahead to a subsidy-free future.
Iain Robertson, Vice President Renewables at SmartestEnergy which purchases electricity from many independent projects, said: “The reduction in subsidies has inevitably slowed growth in the independent generation sector but these latest figures underline the significant role energy entrepreneurs continue to play as the UK shifts to a decentralised, decarbonised and digitised energy system.”
Although growth has slowed, SmartestEnergy’s Energy Entrepreneurs Report underlines the significant contribution the independent sector is making in meeting the nation’s energy needs.
More than 8.4 million households can now be powered by renewable energy projects outside of the traditional energy supply sector. In total they make up 9.2% of the GB energy mix – double their contribution just five years ago – and are helping the nation set new records for the longest periods without coal generation for more than 130 years.
The 400 new projects commissioned during the year represent a rise of 6.2% on total project numbers at the end of 2016. Capacity saw a greater increase, with an additional 1GW (8.2%) rise taking total capacity up to 13.8GW. The 31TWh of electricity generated was worth just under £1.4bn.
