An industry giant is betting big on a massive leap in renewable energy as it plans to create more than 20 gigawatts of renewable power capacity by 2025, with a focus on solar and wind.
A consortium of US energy companies including Duke Energy, SunEdison and NextEra Energy, along with German utility RWE, has joined forces with the United Kingdom’s government to bring forward a plan to build a new nuclear power plant in the UK.
The UK’s Renewable Energy Target is expected to provide a new incentive for businesses to build more renewable energy.
The US’s National Renewable Electricity Laboratory (NREL) estimates the UK will be able to meet half of its 2020 renewable energy needs with wind, solar and tidal power by 2030, but it is aiming for a similar target for the other half.NREL’s estimates are a big boost for the renewable energy sector, which has been struggling to build the capacity needed to meet its renewable energy targets.
The UK’s target for renewable energy is set to reach 60% of total generation by 2020.
However, a recent report by the UK’s Office for National Statistics has found that UK solar PV and wind installations are falling behind the US’s.
The report, published by the NREL, found that solar PV installations in the United States are still less than half of those in the Netherlands, a country with a similar renewable energy target.
The report found that in 2020, the United State installed almost twice as many PV panels than the Netherlands.
“The US has been building more solar than the UK and this is largely because the US has had a much more aggressive policy towards renewables than has been the case in the EU,” said NREL Director of Electricity and Climate Strategy Michael Coates.
“We are seeing an increase in solar installations from about 4% to 6% over the last five years.”
This is the sort of rapid growth that we need to continue to drive across the UK to achieve our targets.
“Solar PV installed by the United Nations in 2018 and 2019 is still lower than the United states average.
Coates said the UK is “working to reduce its dependence on foreign suppliers” and is also investing heavily in new nuclear technology.”
It is important to recognise that nuclear energy will continue to play a key role in our future energy mix.
However, we will also be investing in new technologies to achieve greater reliability, and to build up a more resilient and resilient nuclear fleet,” he said.
In a recent interview with Bloomberg, Coates said there were “a lot of people” in the US and Europe who were not sure whether or not they should support nuclear power.
Coats said that he hoped the UK would be able “to become a world leader in this field.”
The UK has been leading the world in the development of nuclear power with more than 400 new units under construction.
Coases comments come after the US announced plans to expand its nuclear fleet by 60%.
The move comes after years of lobbying by the nuclear industry to get the US to ramp up its nuclear capacity.