As the sun set on Thursday 24th October 2019, The Future Economy Network co-ordinated another exciting sustainable networking event, this time on the very popular subject of Renewable Energy Innovations. Subscribers Osborne Clarke kindly hosted the event high up in their Bristol office with a wonderful view! The seminar started off with a drinks reception kindly provided by Osborne Clarke.
Alan John, Osborne Clarke’s Head of Renewable Energy, introduced the firm’s strong links to the theme alongside general housekeeping. Davina Gilbert, The Future Economy Network’s Events Officer, then continued the session with a brief introduction on the benefits of subscription.
First off, Roland Billington from Cadence Planning discussed solar’s huge achievements and history of challenges, and the hurdles to overcome in the future. He highlighted the importance of the grid and the risk for developers. Roland looked at the difficulty in finding suitable land for solar farms, and how it can affect landowners. Land restraints are multiple, and this is a regular problem for solar developers – Roland called the ideal situation the “Holy Trinity” – a viable grid, a willing landowner and zero planning constraints. Roland looked at solar helping towards the carbon zero goal - the National Grid states that UK solar capacity will need to increase by at least 10 GW before 2030 to comply with the 2008 Climate Change Act; the new 2050 net-zero emissions accelerates this rate even further. Finally, Roland concluded by looking at finance streams. Existing large asset owners are being increasingly optimistic about non-subsidised solar, and despite not all schemes getting off the ground, it is clear that solar can compete well. As Roland said, “the future is bright for solar!”
Next up, we welcomed Alan John from Osborne Clarke. Alan entertained the audience with his clear passion and knowledge on the renewables sector. Alan took the audience on a journey to discuss the history of wind and its undervalued potential with much promise but modest deployment. Alan then discussed the various kinds of subsidies that fuelled the growth of wind energy, such as NFFO, the Climate Change Levy exemption, the Renewables Energy Obligation, and Contracts for Difference. He went on to show how the industry has grown, particularly with the increase in size of turbines and energy generated going from kW to Gw. He then discussed the grid as a whole, digital transformation, energy storage and floating turbines. Finally, Alan concluded by looking to the future. Now that wind energy is supplying almost 20% of the UK’s energy, he discussed the transition from single turbines to offshore wind and how this can assist our net zero carbon challenges.
We then heard from Neel Mehta, Partner at Ashfords. Neel looked at the brief history and logistics behind Hydrothermal Energy, before taking us through the legal aspects of creating a heat network. He explained the 5 key steps to be taken into consideration; Feasibility, Commercialisation, Delivery, Operation and Expansion and Interconnection. The forms of contracts required both for the installation phase and the services stage were then discussed as well as the parties who may be involved in the development of Heat Networks. Neel discussed the associated common delivery models, tax implications and insurance.
Last but by no means least, we welcomed Joe Quarini from the University of Bristol to discuss the opportunities and challenges surrounding geothermal energy. Joe started off by looking at how geothermal works, and how we can transfer heat for our own uses. Advantages of geothermal mainly stem around its consistency (in comparison to the intermittency of wind and solar), its small footprint, and its ability to provide heat and power. However, Joe was quick to outline the problems – expensive drilling, its questionable sustainability, and its geographical limitations. Geothermal energy is very dependent on the earth’s fault lines which restricts where it is viable – it currently creates much less than 1% of the world’s electricity. Iceland is an example where this energy alternative is most suitable – around 30% of their electricity is generated from geothermal sources, and in these places its opportunities outweigh its limitations. Joe then showed us some examples of geothermal projects in the UK, namely United Downs and Southampton. He then finalised by suggesting how we could be using geothermal – that instead of attempting to just harvest heat, we should use the ground as both a heat source and heat sink; providing warmth in winter and cooling in summer.
The seminars finished off with some energetic questions from the audience, followed by a lively 60 second pitch session from attendees. The event concluded with some valuable networking and finishing up the wonderful refreshments.
The Future Economy Network would like to offer sincere thanks to the speakers, and to Osborne Clarke for their continued support. Also, a huge thank you to all attendees – we hope you found it an interesting and insightful event.
The Future Economy Network look forward to seeing you at another event soon! Details of upcoming events can be found here!