Growth in independent renewable energy projects across the UK slowed in 2017, according to a new report by SmartestEnergy.
More 400 new independent projects worth £277m came online adding 1GW of new capacity, the report said.
However, 2017 was the lowest rate of growth since SmartestEnergy started publishing the annual report in 2012, the company said.
For example, capacity increased by 1.8GW in 2016 with 942 independent clean power projects commissioned, it said.
SmartestEnergy blamed subsidy cuts in the UK as the reason for the slower growth.
SmartestEnergy vice president renewables Iain Robertson said: “The reduction in subsidies has inevitably slowed growth in the independent generation sector but these latest figures underline the significant role energy entrepreneurs continue to play as the UK shifts to a decentralised, decarbonised and digitised energy system.
“As we enter an era where generators will increasingly be expected to ‘stand on their own two feet’ and operate without subsidies, they will need to become active participants in the new energy system to develop revenue streams.” he adds.
The report examines other financial options including corporate power purchase agreements between generators and large energy users which provide long-term revenue to secure finance.
It added that there is also increasing opportunities from co-location of storage with renewable generation with “generators considering new ways to structure commercial agreements to tap into new revenues”.
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‘Slow time’ for UK independents
By EBS