LOW CARBON ENERGY IN THE UNITED KINGDOM: Mark Hastie-Oldland Energy Investment Specialist

Mark Hastie-Oldland
Energy Investment Specialist
British Embassy Tokyo
[email protected]
+81 (0) 3 5211 1314
LOW CARBON ENERGY IN THE UNITED KINGDOM:
TRENDS AND TRAJECTORIES TO 2020
Mark Hastie-Oldland
Energy Investment Specialist
British Embassy Tokyo
LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020
Mark Hastie-Oldland
Energy Investment Specialist
British Embassy Tokyo
[email protected]
+81 (0) 3 5211 1314
TARGETS
• By 2020, the UK has legally binding targets to source 15% of her energy needs from low carbon sources.
• Achieving our targets will require 30% of all electricity to be generated from renewables sources.
• By 2020, around one fifth of the UK’s conventional thermal fleet will have been decommissioned.
THE ENERGY TRILEMMA
The UK’s Electricity Market Reform package is designed to address the following challenges:
• Security of Supply;
• Decarbonisation;
• Affordability.
THE COST OF DECARBONISATION
To achieve this, the National Infrastructure Plan set out an investment requirement of around £200bn to 2020.
Since 2010, an average of £7 billion has been invested each year in UK based renewable energy.
LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020
Mark Hastie-Oldland
Energy Investment Specialist
British Embassy Tokyo
[email protected]
+81 (0) 3 5211 1314
CURRENT STATUS
• Electricity generation from renewable sources has doubled since 2010 and now supplies
15% of the UK’s electricity.
• Since 2010, an average of £7 billion has been invested each year in UK based renewable
energy.
• In 2013 alone, almost £8 billion was invested across the range of renewable technologies,
a record high.
LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020
Mark Hastie-Oldland
Energy Investment Specialist
British Embassy Tokyo
[email protected]
+81 (0) 3 5211 1314
Estimated investment in
renewable
electricity
generation
between
2010-2013,
projected
investment from now to
2020.
LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020
Mark Hastie-Oldland
Energy Investment Specialist
British Embassy Tokyo
[email protected]
+81 (0) 3 5211 1314
ONSHORE WIND
• End-2013 Installed Capacity : 7.3 GW
• Potential 2020 capacity : 11-13 GW
• Pipeline data
- 1.5 GW under construction;
- 5.1 GW consented and awaiting construction;
7 million homes.
- 6.5 GW submitted for consent.
78
• Onshore wind currently provides around 5% of the UK’s electricity; enough to power
around 3 million homes.
• By 2020, Government expects onshore wind to power nearly 7 million homes.
LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020
Mark Hastie-Oldland
Energy Investment Specialist
British Embassy Tokyo
[email protected]
+81 (0) 3 5211 1314
OFFSHORE WIND
• End-2013 Installed Capacity : 3.8 GW
[more than the rest of the world combined]
• Potential 2020 capacity : 8-12 GW
[clear pathway to 2020 for 10GW]
7 million
• Pipeline
data homes. - 1.4. GW under construction;
- 4.3GW consented and awaiting construction;
- 9.1GW submitted for consent.
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• Offshore wind currently supports around 18,300 jobs
• The London Array wind farm is the world’s largest, with a capacity of 630 MW
[enough to power nearly 500,000 homes]
LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020
Mark Hastie-Oldland
Energy Investment Specialist
British Embassy Tokyo
[email protected]
+81 (0) 3 5211 1314
SOLAR
• End-2013 Installed Capacity : 2.7 GW
• Potential 2020 capacity : 11-12 GW
[Including domestic and commercial use]
• Pipeline data
- 0.6 GW under construction;
7 million homes. - 1.5 GW consented and awaiting construction;
- 1.4 GW submitted for consent.
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• In 2013 alone the UK’s total solar capacity grew by 60%, adding an extra 1,000 MW of low
carbon generating capacity.
• With enough capacity to power over 500,000 homes, the UK is firmly with the top ten
economies for installed solar capacity worldwide.
LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020
Mark Hastie-Oldland
Energy Investment Specialist
British Embassy Tokyo
[email protected]
+81 (0) 3 5211 1314
2014 CfD award
•
5 offshore wind farms
3,184MW
•
2 Biomass Conversions
1,065MW
•
1 Dedicated Biomass with CHP
299MW
These projects will bring forwards up to
£12bn of private investment, and support
at least 8,500 jobs.
A further CfD award will take place on
16th October 2014.