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Analyst predicts ‘massive investments’ for UK renewables sector

More investment in renewables is needed to make up for the closure of coal and nuclear power stations over the next decade to provide electricity.
More investment in renewables is needed to make up for the closure of coal and nuclear power stations over the next decade to provide electricity.

An analyst has predicted “massive investments” for the UK’s renewables sector between now and 2030.

GlobalData said the industry is expected to nearly double its capacity over that period, filling a gap left by the retirement of coal power plants by 2025 and closure of all but one nuclear plant in the next decade.

The firm said this will require a huge investment in order to meet electricity demand, while renewable capacity is expected to increase annually by 5.5%.

Power industry analyst Arkapal Sil, said the variable nature of renewables will require more battery storage systems to provide stable power to the grid.

It comes as National Grid has recommended an investment of £59.8million between 2019 and 2020 to strengthen transmission infrastructure.

Strengthening the grid would also be needed to cater to the growing electric car market, while further interconnection capacity is needed to enable the flow of energy between the UK and other European markets post-Brexit by 2031.

Mr Sil said: “The UK has a very robust track record of reducing its carbon dioxide emissions, and banking on gas and renewables for power generation will further help the country to achieve this.

“However, overdependence on these technologies may result in fluctuations in electricity bills owing to massive investments in infrastructure along with possible gas price swings in the international market.”

 

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