A breeze of revolution is blowing throughout UK’s power stations. Renewable energy sources like wind turbines might soon produce more electricity compared to nuclear power stations.
According to the Office of National Statistics, the contribution of renewable energy in supplying electricity went up from 6.8% to 14.9% in last 4 years. For the last 20 years, nuclear power contributed over 25% of UK’s electricity is at a sluggish decline now at 19 %. New power stations haven’t been constructed since 1995. Onshore and offshore wind turbines deliver a vast segment of the total requirement of the country’s electricity. As of last week, a plan was approved for the planet’s biggest offshore wind farm – 400 turbines of 1100 square kilometers at shallow waters of Dogger Bank in the North Sea – will add roughly two-thirds to the present capacity of 4000MW generated offshore.
Since 2010, UK invested £15billion in wind turbines. Renewable energy reduces UK’s reliance on foreign fuel imports and supports 36,000 jobs, says Ed Davey, Secretary of State for Energy and Climate Change. Gordon Edge from Renewable UK mentions that wind energy from turbines did surpass nuclear energy in the last year on a few occasions. He adds that the difference is lessening very swiftly. By 2016, renewable energy is prepared to permanently outdo nuclear.
Energy usage is in decline in UK for long. Consumption currently has declined to the levels of mid-1980s, mentions the Office of National Statistics. This is due to industries slashing power consumption by 50% since 1980, and to the embracing of technology permitting energy efficiency. Reduced energy usage and greening of energy supply combine to lessen UK’s CO2 emissions by 22% since 1990.
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Investments in renewable energy projects are currently the most sizable sector of energy industry. The green sector is of escalating importance. Investment experts, private equity managers, government officials and other experts of the area encourage green energy and further expand renewable energy sectors. Financing of different energy projects have caught the notice of market players. Wind, hydro, solar, geothermal, biomass with recently conceived waste-to-energy projects, present great chances for developers or investors to achieve pleasing results and towering returns on investment. If that sort of investment is interests you, or any other financial opportunities that’s high-yielding, then you must be on our investors list.