New Year means new opportunities

Traditionally, if the first visitor to your home after midnight on New Year came bearing a lump of coal, it was thought to herald a prosperous year. But this year, with fossil fuel use hitting its lowest ever level in the UK for a few hours shortly before the new year, and renewable energy investment surging, perhaps it is time for a new symbol of prosperity, suitable for our low-carbon future.

We are only three weeks into 2022, and there is already a lot to be enthusiastic about for the renewables sector. Global investment in clean energy is soaring, and leaders are looking to how to implement the commitments made at COP26. In the UK, we’ve seen the fourth round of Contracts for Difference launch in December, covering a wider range of technologies, and the launch of the new Green Gas Support Scheme, currently open to applications.

2021 saw significant commitments from world leaders at COP26, on phasing out fossil fuels, encouraging renewables and EVs, and mobilising climate finance, alongside the UK and over 100 other countries signing the Global Methane Pledge. The UK itself also released long-awaited strategies and policy statements on heat and buildings, hydrogen, industrial decarbonisation, and biomass.

But 2022 must be the year where we start to deliver on 2021’s commitments. This is especially important given Europe’s ongoing energy crisis, which has already seen nearly 30 UK retail energy suppliers go bust, and millions of households threatened with fuel poverty. Already, the UK Government is coming under pressure from both energy providers and climate-sceptic MPs to cancel green levies, a move which could endanger important measures such as the Green Gas Support Scheme and energy efficiency measures.

For renewable energy developers, however, the current market presents big opportunities for investment in new generation assets, with analysts predicting a 25% increase in global renewables investment as corporations and investors look to offset rising energy bills through investing into new energy generation. Harnessing this investment will be key in achieving the most ambitious targets and ensuring a brighter, greener future for us all.

Eco2 is excited by the possibilities ahead. Indeed, we are already making progress with several exciting renewable energy development projects in the pipeline, including our 54MW Lluest Y Gwynt Wind Farm project in Mid Wales in partnership with Statkraft, and some valuable AD projects to take advantage of the Green Gas Support Scheme. We can’t wait to show you what Eco2 is doing to make renewables work in 2022.

If you have any projects or ideas you would like to see come forward, don’t be afraid to get in touch and make this year a green and prosperous one.