We had explored how earlier in the year increasing pressure had been placed on governments to deliver a green recovery in the aftermath of COVID-19.
This has been signed by business leaders across the country, and recent news suggests this has been taken into consideration, following reports of further funding given to renewable sources, such as wind and EV.
It seems, however, that big parts of Europe may be making a bit push sooner than anticipated. A report conducted by Kallanish Energy suggests that there are 374 ‘shovel-ready’ energy projects that cover renewable energy generation, energy storage, transmission, and distribution. The projects are deemed to be investment opportunities which only require one final push to be fully realised. One such project highlighted a 590 MW solar PV project in Caceres, Spain, or the Enel Green Power solar PV Gigafactory in Northern Italy.
These projects were primarily considered due to their potential for creating social, environmental, and economic benefits in the short term. That said, the investment requirement would be around £75 billion, but in turn would result in up to 464 tonnes of carbon dioxide lifetime emissions being avoided. Although a relatively low figure in comparison to other projects, the reduction in these lifetime emissions will be a cornerstone in to realising many clean energy goals.
The report stated; “Considering that the 374 ‘shovel-ready’ projects that have been identified are only a fraction of energy projects currently under development, their contribution is only an illustration of how the overall market segments of energy storage, renewable energy generation, and others will contribute to the reduction of carbon emissions in Europe and to job creation in the green space”
Furthermore, the report does go on to identify over 1,000 other similar projects focussing on transport, building, industry, and land use sectors for total investment opportunities totalling £200billion. Of those identified, over 36% accounted for were directly focussed on renewable energy generation projects.
With so many options available and recent information provided on how to benefit from the different subsidies provided – to explore how your business or home could benefit from a change to a clean energy alternative, get in contact with us today and discover which options may best benefit you.
