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According to new research published by Carbon Brief, renewable energy delivers more electricity to UK businesses and homes as compared to fossil fuels. It is the first time in history that energy from UKâs solar panels has exceeded fossil fuels since the year 1882 when the UK's first power plant was fired up. There were four months in 2019 when renewable sources of energy such as solar, wind farms and renewable biomass plants generated more electricity for UK than that was generated by fossil fuels.
As per the report, renewable energy is increased by 9 per cent in the year 2019 as compared to the year 2018. The UK became the first major economy which focuses on net-zero greenhouse gas emissions by 2050, increasing the ambition of its legally binding climate change Act.
As per the information from Carbon Brief website, The UK generates 54 per cent of its electricity from low carbon sources which include 37 per cent from renewables and 20 per cent from wind alone as compared to 43 per cent from fossil fuel, including 41 per cent from gas and last 2 per cent from coal. Due to the availability of renewable energy, the production from coal and gas plants went down by 6 per cent in 2019 and was 50 per cent down from the levels at the start of decade. For now, availability of coal-free power has enhanced from the first 24-hour period in the year 2017 and has extended to 21 days in the year 2018 and to 83-days in the year 2019.
The UK Government determined enough to roll out 40GW of offshore wind by 2030, from 8 GW as on today, which will not happen without policies that help it to grow. Â This may not be sufficient to achieve UKâs climate objectives, without production from onshore wind and solar plants, newly set up nuclear or low-carbon energy sources. Energy UK's interim chief executive Audrey Gallacher said that the energy industry must go faster beyond expectations to help achieve UK's climate targets.
On 27th June 2019, the UK Government published UK Energy statistics of first Quarter 2019 which showed that Renewable electricity capacity was increased to 45.0 GW in the first quarter of 2019, an increase of 7.9 per cent as compared to first quarter of year 2018 whereas Renewablesâ share of electricity generation which includes solar, wind, hydro and other renewables increased to 35.8 per cent in first quarter 2019, versus 30.5 per cent in first quarter of the year 2018, because of increased capacity and more than average wind speeds in March 2019.
The below calculations in graph suggests that ultimate energy use was 11.0 per cent in 2018 from renewable sources which was higher from 9.9 per cent in 2017. The United Kingdom succeeded to achieve its target with 10.4 per cent of total energy consumption from renewable sources as compared to the 10.2 per cent interim objective.
(Source: Department for Business, Energy and Industrial Strategy of the Government of UK)
Share performance of Renewable energy companies Listed in London stock exchange
Active Energy Group Plc (LON:AEG)
On 07th January 2020, the share price closed at GBX 0.48 per share on the London Stock Exchange which was in-line with the previous close. The market capitalisation of AEG was reported to be at GBP 5.77 million.
On 07th January 2020, the share price closed at GBX 17.55 per share on the London Stock Exchange which was 3.03 per cent lower from the previous close. The market capitalisation of AFC was reported to be at GBP 79.08 million.
Andalas Energy and Power Plc (LON:ADL)
On 07th January 2020, the share price closed at GBX 0.17 per share on the London Stock Exchange which was in-line with the previous close. The market capitalisation of ADL was reported to be at GBP 2.0 million.
Ceres Power Holdings Plc (LON:CWR)
On 07th January 2020, the share price closed at GBX 270.0 per share on the London Stock Exchange which was 1.88 per cent higher from the previous close. The market capitalisation of CWR was reported to be at GBP 415.6 million.
China New Energy Ltd (LON:CNEL)
On 07th January 2020, the share price closed at GBX 2.90 per share on the London Stock Exchange which was 1.75 per cent higher from the previous close. The market capitalisation of CNEL was reported to be at GBP 12.89 million.
On 07th January 2020, the share price closed at GBX 10.25 per share on the London Stock Exchange which was in-line with the previous close. The market capitalisation of HYR was reported to be at GBP 2.91 million.
On 07th January 2020, the share price closed at GBX 33.0 per share on the London Stock Exchange which was 3.125 per cent higher from the previous close. The market capitalisation of IKA was reported to be at GBP 33.26 million.
ITM Power Plc (LON:ITM)
On 07th January 2020, the share price closed at GBX 87.0 per share on the London Stock Exchange which was 10.96 per cent higher from the previous close. The market capitalisation of ITM was reported to be at GBP 410.05 million.
