REF: Consented Renewables Capacity Exceeds Budget
Renewable Energy Foundation (REF) said yesterday that the overshoot of consented renewable energy projects in the UK has now grown even more, referring to its report from last year where it was noted that more capacity had been granted planning consent than it was needed to generate the electricity component of the 2020 target (110 TWh).
Department of Energy and Climate Change’s (DECC) latest numbers show there is now 49 GW of consented renewable energy capacity in the UK (21.2 GW built, 28.1 GW under or awaiting construction) and REF stated that the overshoot has now grown significantly, from 5% to 34% (37.7 TWh).
According to REF, subsidies required for this amount of planned projects would exceed the Treasury’s Levy Control Framework limit of £7.6bn per year by approximately £1.5bn per year. Furthermore, there is still a very large quantity of additional renewable energy capacity seeking planning consent (14.7 GW), REF stated. “If all that capacity is consented and built, which we recognize is unlikely, the overshoot would rise to 67% (73.4 TWh).”
Offshore wind accounts for 17.8GW of the total consented renewables capacity, with an estimated output of 53 TWh.
“In conclusion, it is obvious that in spite of DECC’s attempts to cool the renewables sector, for example through early closure of the Renewables Obligation to solar, the industry continues to bring forward an oversupply of electricity projects for which there is no subsidy budget,” REF said.
Image: Xodus (Illustration)