Goodbye coal, hello renewables
Last week Britain hit another promising milestone – 2 months running without coal generated power.
Only 10 years ago, 40 % of Britain’s electrical grid was supplied by coal fired generation and only 3 % from renewables. Over the past month and year, 27.5 % and 25 % respectively of the grid has been supplied by renewable energy (wind, hydro and solar).
Source: https://grid.iamkate.com
Driving the green revolution
In order to improve these numbers even further, a mix of Government intervention, increased financing and attractive energy contracts such as power purchase agreements (PPAs) are required. The Government announced in the 2020 Budget that the CCA scheme will run until March 2025 with application anticipated to be accepted until September 2020. This gives companies an opportunity to receive up to a 90% reduction in the climate change levy (CCL) tax.
The eligibility for CCA is based upon a company’s commitment to pre-determined energy reduction targets with the aim of saving money and carbon. With energy, cost and emission reduction a high priority for businesses, careful consideration should be given to which route is best for your business. If CCL is not the biggest issue facing your business energy costs (i.e. your business is not an energy intensive industry), there are various other solutions to creating a more energy efficient business.