Solar Energy UK’s Chief Executive, Chris Hewett discusses the progress in corporate solar energy adoption in the UK in 2023, and how it can be accelerated in the sustainable business publication, edie.
Edie estimates that approximately three-quarters of the world’s newly added renewable energy capacity was attributed to solar power last year, and corporate funding for the solar sector surged by 42% year-on-year.
This trend is primarily driven by factors such as the escalating price of electricity and volatile gas prices, compelling businesses to seek alternative energy sources to mitigate costs. He also identifies that beyond the economic considerations, there’s a shift from viewing energy costs as something to be minimised, but as opportunity for investment in long-term resilience and innovation.
The article reports around 14.4GW of solar capacity has been installed in the UK on a cumulative basis, with a third of that coming from rooftop solar. However, the UK’s transition to solar energy is progressing at a slower pace compared to its EU counterparts.
It is estimated that covering only 5% of appropriate roof space on commercial buildings in the UK with solar installations could result in collective annual energy cost savings of £12.6bn. Hewett emphasises, “The more electricity you consume, the better deal having on-site solar is” urging businesses to embrace solar solutions as the sun sets on affordable fossil fuels.
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Read the full article from Edie: https://lnkd.in/dzGCnG_Y
