UK set to have 6.8GW of renewable capacity: The CfD (Contracts for Difference) scheme could bring a considerably larger share of renewables to the UK’s grid, reaching 6.8GW by the end of the year.
It is thought that CfD is the goverment’s main initiative to inspire low carbon electricity generation by providing project developes with high upfront costs and long lifetimes to protect them volatile wholesale prices.
It is suggested by the analysis that offshore wind could become the main driver of the new generation installed under the scheme.
“The big driver of the CfD capacity this year is offshore wind. In fact, forecasts indicate that over next winter, monthly generation from the CfD fleet could total between 2.5TWh and 3.0TWh.” said Lee Drummee, Analyst at Cornwall Insight.
“Whilst this is still only around 10% of monthly demand levels for the winter months, the variable nature of wind generation is increasingly impacting the market over these periods.”
UK set to have 6.8GW of renewable capacity