Clean energy is a win-win solution – good for the environment and good for the balance sheet.
In the not-too-distant past, energy decisions often boiled down to a choice.
This was between the environment and economics, with the best path forward frequently out of reach due to cost.
However, as technology evolves, sustainable energy options are now well within our reach. This brightens our future and empowers us to make decisions that will turn our planet around.
Today, countries, governments, regulators, and individuals are making hard decisions that will forever impact our future.
The concept of clean energy has been around for decades.
Yet the biggest barrier to entry was the cost relative to output.
Fortunately, things are changing.
The costs of installing solar have dropped by as much as 70% over the past decade.
And wind farms have also made significant gains in production due to better equipment and technology. With advances in rotor diameter and base height, global onshore wind capacity has increased fourfold since 2010.
The growth of renewable energy
Although there are mixed opinions on how best to halt or even reverse the damage that’s been done to our planet, it’s important that we don’t lose sight of the positive results we’re starting to see.
In 2020, renewable energy grew 45% worldwide, attributed to an unprecedented boom in wind and solar energy.
We also saw an exceptional 90% rise in global wind capacity.
Plus a 23% expansion in new solar power installations.
Such a rapid rate of adoption can be attributed in part to greater affordability. This in turn drives faster uptake of this new distributed and sustainable energy model.
But as more people clamour for access to clean energy, further changes have to be made.
Converting traditional energy sources as well as the heavy infrastructure that’s been put in place to support this model is a monumental task.
Along with fundamental changes to the ecosystem, the business model for utilities will also change.
This will see energy being generated, bought, and sold from a much wider range of sources.
Exciting times ahead.
And Yorkshire Gas and Power are with you every step of the way.
To find out more about the company visit www.ygp.co.uk
