The factors helping the renewables industry plan for the future

Commitment from government

Renewable energy accounted for more than 30% of the UK's electricity mix during the first quarter of 2018, a report published by the Department for Business, Energy, Industry & Industrial Strategy (BEIS) shows.

UK renewables capacity stood at a record 41.9GW at the end of March 2018, up 11.2% year-on-year. Much of this growth is the result of an increase in operational offshore wind capacity, which now stands at 7.4GW in the UK. A significant decline in the cost of generating power from offshore windfarms, which makes it more economical than new gas or nuclear power plants, has certainly provided the impetus for expansion. There is a further 7GW of capacity under construction or with contracts in place for development, which is enough to power 4.9 million homes. Hermes' Lundie on the drivers...