Some very positive news as we approach the summer equinox that records for renewable and low-carbon generation have been set across the UK, mirroring the impact across Europe. Despite some transatlantic challenges, the appetite and commerciality driving the clean energy revolution is accelerating, and lobby-driven, backwards-looking views will not check this momentum.
It's great news for the innovators, entrepreneurs and visionaries we work for and with, and as we discussed at our Energy Storage and Blockchain lunch on Tuesday, the pace of change is leading to unprecedented opportunity for the energy transition. Smart local microgrids, peer to peer energy transactions, smart contracts and distributed emission tracking....look out for our briefing on this in the next day or two.
All told, I'm optimistic the characters and drive we work alongside in this sector won't be cowed by the politicians and the lobbying interests influencing them.
Add in nuclear, and by 2pm low carbon sources were producing 72.1% of electricity in the UK.Wednesday lunchtime was perfect for renewables - sunny and windy at the same time. The National Grid, the body that owns and manages the power supply around the UK, said in a tweet: "For the first time ever this lunchtime wind, nuclear and solar were all generating more than both gas and coal combined."On Tuesday, a tenth of the UK's power was coming from offshore wind farms - a newcomer on the energy scene whose costs have plummeted far faster than expected.So much power was being generated by wind turbines, in fact, that prices fell to a tenth of their normal level.