Faster grid hook-ups planned for some green energy projects

Published On Oct 18, 2024, 8:18 AM

The UK government is proposing reforms to its electricity connection system, allowing ready wind and solar projects to bypass other waiting projects in order to accelerate the shift to clean power by 2030. Currently, there is a long queue for connection to the National Grid that risks delaying critical renewable energy projects. The new 'first ready and needed, first connected' approach aims to expedite necessary projects, but it may lead to legal challenges from those currently waiting. Industry leaders are seeking clarity to reduce uncertainty and encourage investment.

Read full article

Stock Forecasts

ICLNView ICLN chart on TradingView

Positive

The shift toward renewable energy sources and acceleration of wind and solar projects is likely to benefit the clean energy sector significantly. Key players in this space could see increased demand and potentially higher stock prices as they gain faster access to the grid.

QCLNView QCLN chart on TradingView

Negative

Legal challenges against the proposed changes could introduce volatility and unpredictability in the market for renewable energy stocks, particularly for those projects that currently sit in the queue but might be pushed back. This uncertainty may negatively impact short-term stock performance.

Related News

Volcano power: Icelandic scientist plan to drill down to magma

Oct 17, 2024, 7:03 PM

In Iceland scientists plan to drill down to magma to understand it and use it for energy production.

ICLN
TAN

Oil could fall to $25 per barrel by 2050 if net zero emissions goals met, IEA says

Oct 16, 2024, 2:32 PM

The IEA sees cheaper energy prices in the future as oil gets displaced by EVs and renewables meet growing electricity demand.

XLE
ICLN

Supreme Court Lets Biden Plans on Mercury and Methane Move Forward

Oct 4, 2024, 12:02 PM

Republican-led states and industry groups argued that the Environmental Protection Agency had moved too fast and imposed onerous regulations.

XOM
ICLN