Sun Shines on Solar Power at Latest Auction
Date: 06/09/24
As one of the UK’s market leaders in solar powered generator hire, Think Hire were delighted to see the industry receive a significant boost in the latest round of Government renewable energy auctions announced this week.
According to energy industry body Solar Energy UK, no less than 93 different solar energy projects won Government support in the sixth round of auctions. Together these solar power plants will deliver an impressive 3.288 GW of energy – enough to power around 1.8million homes.
Solar energy on target for 2030
The new contracts are a major step forward towards the Government’s target of getting 50GW of solar in the UK energy mix by 2030. To achieve this, it is estimated that 3.3GW of capacity will need to be added each year, and the 3.288GW comes very close to this target.
The new contracts are the first to feature capacities of over 50MW, with projects for 299MW secured by EDF, and 150MW secured by INRG, both in Hertfordshire, gaining licences.
What is the auction about?
The Government CfD renewable energy auctions guarantee a minimum price for the energy supplied. This is called a Contract for Difference, or CdF. This system works by guaranteeing the future price paid for power, making investment by companies and institutional investors more secure and dependable, and therefore more attractive.
While a CfD contract provides stability and a price guarantee, it is not a subsidy as such. Should the wholesale energy price rise above the guaranteed rate, as happened after the Russian invasion of Ukraine, then the Government still pays the guaranteed price, and the public finances get the difference.
The CfD price was raised significantly for the 2024 auction after an unrealistically low price resulted in no bids whatsoever in the 2023 renewable energy auction.
What they said
“This auction has produced a record number of solar projects bolstering our mission for a solar revolution,” said Secretary of State for Energy Security and Net Zero, Ed Miliband. “It is another significant step forward in our mission for clean power by 2030 – bringing Britain energy independence and lower bills for good.”
Energy Minister, Michael Shanks agreed, saying that the latest round of auctions would “turbocharge our mission for energy independence and clean power by 2030.”
Solar powers forward
Here at Think Hire, we’ve known the potential of solar energy for a long time, and we’ve been helping companies up and down the country to harness this clean energy source simply and affordably. Our cutting edge Solartainer solar powered generator provides a fully portable and flexible way for almost any site to access sustainable, clean energy.
Avoiding the need for expensive set-up costs and infrastructure, the Solartainer can be deployed on any kind of site. Better still, it can be configured quickly and start delivering clean energy in a matter of hours, without waiting for planning permission or joining the lengthy queue for grid connections.
The Solartainer is also fully scalable, with the option to connect multiple solar powered generators to create the capacity to power all your site’s energy needs. Customers can also specify additional, smaller solar powered generators, in the form of Solar Skyframes, which can be added to rooftops of huts and site offices to boost supplies during peak periods.
As a trailblazer in solar powered generators, we are delighted to see the UK taking solar power so seriously. If you’d like to find out how you can be part of Ed Miliband’s ‘solar revolution’, we’d be happy to help. Just get in touch with our team and we’ll show you how quickly and easily your site can access sustainable renewable energy using portable solar powered generators.
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We have over 60 years combined experience in the design, manufacture, hire and sale of innovative products, with an environmentally considerate power supply.