Mark Hastie-Oldland Energy Investment Specialist British Embassy Tokyo [email protected] +81 (0) 3 5211 1314 LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020 Mark Hastie-Oldland Energy Investment Specialist British Embassy Tokyo LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020 Mark Hastie-Oldland Energy Investment Specialist British Embassy Tokyo [email protected] +81 (0) 3 5211 1314 TARGETS • By 2020, the UK has legally binding targets to source 15% of her energy needs from low carbon sources. • Achieving our targets will require 30% of all electricity to be generated from renewables sources. • By 2020, around one fifth of the UK’s conventional thermal fleet will have been decommissioned. THE ENERGY TRILEMMA The UK’s Electricity Market Reform package is designed to address the following challenges: • Security of Supply; • Decarbonisation; • Affordability. THE COST OF DECARBONISATION To achieve this, the National Infrastructure Plan set out an investment requirement of around £200bn to 2020. Since 2010, an average of £7 billion has been invested each year in UK based renewable energy. LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020 Mark Hastie-Oldland Energy Investment Specialist British Embassy Tokyo [email protected] +81 (0) 3 5211 1314 CURRENT STATUS • Electricity generation from renewable sources has doubled since 2010 and now supplies 15% of the UK’s electricity. • Since 2010, an average of £7 billion has been invested each year in UK based renewable energy. • In 2013 alone, almost £8 billion was invested across the range of renewable technologies, a record high. LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020 Mark Hastie-Oldland Energy Investment Specialist British Embassy Tokyo [email protected] +81 (0) 3 5211 1314 Estimated investment in renewable electricity generation between 2010-2013, projected investment from now to 2020. LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020 Mark Hastie-Oldland Energy Investment Specialist British Embassy Tokyo [email protected] +81 (0) 3 5211 1314 ONSHORE WIND • End-2013 Installed Capacity : 7.3 GW • Potential 2020 capacity : 11-13 GW • Pipeline data - 1.5 GW under construction; - 5.1 GW consented and awaiting construction; 7 million homes. - 6.5 GW submitted for consent. 78 • Onshore wind currently provides around 5% of the UK’s electricity; enough to power around 3 million homes. • By 2020, Government expects onshore wind to power nearly 7 million homes. LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020 Mark Hastie-Oldland Energy Investment Specialist British Embassy Tokyo [email protected] +81 (0) 3 5211 1314 OFFSHORE WIND • End-2013 Installed Capacity : 3.8 GW [more than the rest of the world combined] • Potential 2020 capacity : 8-12 GW [clear pathway to 2020 for 10GW] 7 million • Pipeline data homes. - 1.4. GW under construction; - 4.3GW consented and awaiting construction; - 9.1GW submitted for consent. 78 • Offshore wind currently supports around 18,300 jobs • The London Array wind farm is the world’s largest, with a capacity of 630 MW [enough to power nearly 500,000 homes] LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020 Mark Hastie-Oldland Energy Investment Specialist British Embassy Tokyo [email protected] +81 (0) 3 5211 1314 SOLAR • End-2013 Installed Capacity : 2.7 GW • Potential 2020 capacity : 11-12 GW [Including domestic and commercial use] • Pipeline data - 0.6 GW under construction; 7 million homes. - 1.5 GW consented and awaiting construction; - 1.4 GW submitted for consent. 78 • In 2013 alone the UK’s total solar capacity grew by 60%, adding an extra 1,000 MW of low carbon generating capacity. • With enough capacity to power over 500,000 homes, the UK is firmly with the top ten economies for installed solar capacity worldwide. LOW CARBON ENERGY IN THE UNITED KINGDOM: TRENDS AND TRAJECTORIES TO 2020 Mark Hastie-Oldland Energy Investment Specialist British Embassy Tokyo [email protected] +81 (0) 3 5211 1314 2014 CfD award • 5 offshore wind farms 3,184MW • 2 Biomass Conversions 1,065MW • 1 Dedicated Biomass with CHP 299MW These projects will bring forwards up to £12bn of private investment, and support at least 8,500 jobs. A further CfD award will take place on 16th October 2014.