The green recovery and renewables

With a vaccine now available and others on the horizon, governments and businesses are looking beyond the COVID-19 pandemic and considering what form the future recovery will take. And that recovery looks to be more than tinged green.

The Westminster Government has this week published the Energy White Paper - Powering Our Net Zero Future. This follows the announcement of a ten point plan for a green industrial revolution, "building back better" and supporting so-called "green" jobs. The ambition to "green up" is a recurring theme:-

• Westminster has pledged £12 billion to assist in a recovery that is focused on green industries;
• the Scottish Government has announced £5.5 million of additional funding for renewables projects and has this week published its update to the climate change plan 2018-32 and a draft public engagement strategy for climate change;
• institutional investors globally are set to increase their investment in renewables to $742.5bn within the next ten years.

Where are we at the modern coal face?

• Offshore Wind. Currently the UK generates more power from offshore windfarms than any other country. Yet this still only powers around 25% of UK homes. The Westminster Government's aim is within a decade to have every UK home powered by offshore wind, quadrupling current capacity.
• Onshore Wind. Almost half of the UK onshore wind capacity is generated in Scotland. This generation increased by 25% from 2019 to 2020. With onshore wind set to be the cheapest form of electricity generation, and with renewed access to CfD revenue stability, it seems likely that the industry will continue to grow, particularly in Scotland where the resource and underlying support is greater.
• Hydrogen. The ten point plan includes £240 million investment in the development of hydrogen energy. In Scotland it has been announced that Scottish Power will produce hydrogen gas in association with its new solar farm located near Glasgow. Schemes like this will help deliver the Westminster Government target of producing 5GW of low carbon hydrogen by 2030.

• Add to the mix heat and transport, and newer and emerging technologies such as tidal, and the future looks promising.

There are undoubtedly challenges to be met in the shape of for example planning constraints and the wider availability of incentives and subsidies but as a nation we seem to looking in the right direction as we head towards our Presidency of COP26 in Glasgow next November.