Octopus, the UK’s largest investor in onshore renewables, has recorded the highest level of generational output from its UK portfolio of commercial PV arrays this week following the UK’s recent spell of hot sunny weather. In the last 30 days (to July 22nd), the Octopus portfolio generated 155 GWh of solar energy, 19% above the forecasted outturn. The amount generated was enough to power 50,000 UK homes for a whole year (1).
Matt Setchell, Head of Octopus’ Energy Investments team, commented:
“You often hear of record national outputs from wind farms based on our much loved British climate, but the same can be said for UK solar power during sunny spells like the one we are currently enjoying. This is a perfect example of how important it is to develop a truly diversified energy mix, to ensure we maximise all our natural resources at any given time. We have been investing in UK onshore renewables for over 8 years, and are as confident as ever that the energy transition is alive and well in this country and we are proud to be helping drive it forward.
“However, another important consideration is the “summer low” as opposed to “winter peak”, as described by National Grid in its latest Summer Outlook report, whereby the increased amount of unused baseload power on the grid needs to be adequately managed, and hopefully maximised so this electricity is not wasted. As part of our holistic view of the energy system, Octopus has been also investing in smart technology to help enable demand side management and build a more resilient network. It’s no longer just about how much energy you produce, it’s about how you use this energy effectively and at the lowest possible cost to the consumer.”
- – This is calculated using OFGEM’s Medium Electricity Profile Class 1