The United Kingdom (UK) is set to expedite renewable energy grid connections after years of setbacks and delays. With the South West of the UK making significant advancements in renewable energy generation, Great Britain has massive amounts of green energy waiting to be connected to the grid.
However, delays in grid infrastructure construction coupled with an extremely slow onboarding process for renewable energy projects has prevented the UK from fully taking advantage of its reserves of clean energy. To achieve its green energy goals in time, the UK is expediting approval processes for offshore and onshore wind, solar energy, electricity grids, nuclear power stations, carbon capture, and hydrogen.
The government will fast track the approval processes for large clean energy infrastructure projects to help the country achieve 100% renewable electricity by 2030 as part of the Plan for Change initiative.
Provisions in the upcoming Planning and Infrastructure Bill will support new power transmission infrastructure to facilitate the renewable energy industry’s growth and reduce the UK’s reliance on fossil fuels. It will also expedite decisions on free energy infrastructure projects to prevent the delays that typically keep such projects in limbo for years while the UK continues to use fossil fuels.
Pundits expect the forthcoming infrastructure bill to unlock nearly $260 billion in green energy investments and buffer UK households from the fossil fuel market volatility. The UK currently uses a ‘first come, first served’ system to facilitate grid connections that prioritizes projects which come first even when they aren’t ready to supply energy to the grid.
A new “first ready, first connected” will be instituted this year to prioritize projects that are ready to supply clean electricity, streamlining the country’s infrastructure delivery, and reducing the delays typically involved in planning. The UK government will update national policy statements every half decade and reduce consultation burdens to speed up the approval process for large infrastructure projects with the potential to supply vast amounts of green energy.
According to Deputy Prime Minister and Housing Secretary Angela Rayner, blockers have repeatedly stifled the country’s progress and weakened the UK’s energy security. This has left families and businesses in the UK at the mercy of surging energy bills, she says.
The landmark Planning and Infrastructure Bill will allow the UK government to take ‘bold action’ and fix its ‘broken’ infrastructure planning system, the Deputy Prime Minister explained, enabling the UK to deploy vital infrastructure at a much faster pace.
If similar measures are undertaken in North America to speed up grid connections for renewable energy projects, entities like SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) could see a spike in investor interest.
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