Outlook for renewables in GB market: key findings from the Aurora GB Renewables Report
After a period of strong, government-supported growth, the dramatic policy changes in 2015 and 2016 put a big question mark over the future of onshore wind and solar PV in GB. Three years later this uncertainty remains, but steep cost declines and business model innovation have brought the industry to the cusp of unsubsidised deployment. However, financing merchant projects remains a big challenge, and long-term PPAs are scarce. The government is still signalling that some form of subsidy-free support may not be entirely off the table after all.
For offshore wind the future is somewhat more certain – with £557m available in future Pot 2 CfD auctions. However, this will fall short of delivering the industry’s target of 30GW by 2030, suggesting offshore wind will require a combination of sustained policy support and further cost declines to reach the industry’s goals. In this session, Aurora’s experts will explore the key uncertainties facing renewable technologies and present the key insights from our GB Renewables forecast and address the following questions:
- What are the key policy uncertainties and their most likely resolutions?
- What are the economics of different business models and which ones become investible first?
- How much value can renewable projects derive from revenue stacking?
- What are the opportunities for pairing with batteries, and how scalable are they?
To find out more about our GB Renewables Service, please contact