Good With Money Interviews Matthew Clayton, MD THRIVE: The thing about renewable energy is: it makes total sense. So much so that it’s hard to understand why any energy would not be renewable, now we have the technology to harness it.
UK offshore wind power has just become materially cheaper than nuclear. This is a major step forward for UK renewable energy and we hear from Matthew Clayton, MD of sustainable investment company, THRIVE Renewables about what this means for the industry. Written by Rebecca O'Connor - Good With Money
New Government figures released today show that renewable energy generated more than 25% of the UK’s electricity in the first quarter of this year – with onshore wind setting a quarterly record high, providing 8.3% of our power, again demonstrating its role as a key technology in our energy mix. Onshore wind increased by 20.2% compared to Q1 2016.
The growth of UK renewables in the past ten years has been a real success, yet renewables are still often criticised for being 'intermittent'. Matthew Clayton gives his view on what the future has in store.
"Advances in enabling technologies and market innovations including energy storage, demand side aggregation and big data mean that the majority of our electricity can be generated by renewables in the decades ahead, even when the wind doesn’t blow or the sun fails to shine."