The pipeline of clean power and energy storage projects in the UK, exclusive of Northern Ireland, which are ‘awaiting construction’ stands at 15GW, according to new analysis.
Latest figures from the Renewable Energy Planning Database show that the total capacity of clean power and storage projects across England, Scotland and Wales that have yet to be built stands at 24.7GW.
Analysing the pipeline, Cornwall Insight has found that just over 15GW of this capacity are classed as ‘awaiting construction’.
Cornwall Insight analyst Lucy Dolton said: “There is little surprise that so much of the total pipeline is awaiting construction – due to the underlying political uncertainty coupled with the lack of available support schemes, dampening investors’ confidence.
“While large numbers of projects will need to seek subsidy-free routes to market, only a handful have publicly confirmed route to market plans.”
The figure assumes the majority of offshore wind projects will be looking to secure a deal through the Contracts for Difference scheme or be developed as extensions to existing sites, according to Cornwall Insight.
However, other technologies including onshore wind and solar which do not have access to the scheme are currently searching for subsidy-free routes to market options, the analyst outfit found.
Utility power purchase agreements (PPAs) remain the main revenue option for projects, but Dolton said this may change in 2020 as new business models emerge to “meet the needs of subsidy-free generators”.
She added: “With rising media attention surrounding the climate crisis and market innovations such as building basket PPAs for consortia, we can expect growth in corporate PPA deals. However, these alone will not be enough to meet the needs of all generators in the pipeline.”