renewables

  • Press Releases

    Increase in Irish exports raises long-term power price projections

    Cornwall Insight has raised its long-term predictions for power prices in Ireland as a projected rise in interconnector exports and reduced imports pushes up demand and costs. Ireland’s first 2023 - ‘All-Island Power Market Outlook to 2030’ – which looks at data modelled in the first quarter of the year,...

  • Press Releases

    Increase in energy exports to the continent raises long-term GB power price predictions

    Cornwall Insight's latest report on the GB Power Market Outlook to 2030 has seen a rise in our projections for power prices in the latter half of the decade. Estimates indicate that prices are likely to remain above £100/MWh until 2030 and likely beyond. The predictions, from data modelled in...

  • Press Releases

    NSW power prices to surge during peak periods after Liddell power station closure

    According to findings by Cornwall Insight Australia, this week’s closure of Liddell Power Station is expected to drive up average power prices during peak periods in New South Wales (NSW). Prices, particularly in the summer1, are expected to be higher compared to the previous three years. As demand peaks during...

  • Press Releases

    Government will struggle to meet 2025 smart meter target

    Data from Cornwall Insight on domestic energy supply has revealed that the government is likely to face a considerable hurdle in achieving its goal of 100% smart meter coverage by 2025. The smart meter analysis, which also looks at supplier installation figures and the annual tolerance levels1 set by BEIS,...

  • Press Releases

    Ireland leads Europe in growth of electric vehicles

    Ireland has seen the highest growth in the electric vehicle (EV) market share rising an impressive 81.3% from 2021- 2022. The data taken from the new Electric Vehicle Country Attractiveness (EVCA) Index, developed by Cornwall Insight and law firm Shoosmiths, identified the year-on-year growth of large European countries with Ireland,...

  • Press Releases

    UK recognised as one of Europe’s top countries for Electric Vehicles

    The UK has been ranked the 5th most attractive European country for Electric Vehicle (EV) market potential, according to the Electric Vehicle Country Attractiveness (EVCA) Index. The new Index developed by Cornwall Insight and law firm Shoosmiths identifies a range of factors1 from purchase subsidies to national EV charging targets...

  • Media Mentions

    Renewable Energy Magazine| CFDs

    Following our Insight paper on the implications of the rising cost of capital for the fifth round of the Contracts for Difference, Research Analyst Jamie Maule spoke to Renewable Energy Magazine on concerns rising capital could act to stifle competition and deter investors from the CFD round. Renewable Energy Magazine

  • Press Releases

    Soaring cost of capital threatens to derail expansion of renewable energy projects

    The rising cost of capital faced by developers of renewable energy projects, such as onshore wind and solar PV, may slow down the number of new projects and cause some already commissioned projects to become financially unviable. Data from Cornwall Insight’s report into capital costs and their impacts on the...

  • Press Releases

    Cornwall Insight responds to the Spring Budget

    Robert Buckley, Head of Relationship Development at Cornwall Insight: “Once again, a UK budget has seen some significant energy policy announcements that will stir up conversation and opinion across the country. It also shows how reining in energy prices is seen as key to restraining inflation. “The pre-budget announcement to...

  • Press Releases

    Integrated energy solutions could cut cost of UK wholesale market by 25%

    Modelling from Cornwall Insight has shown that in 2035 widespread use of integrated energy solutions could save the UK's wholesale energy market £13bn per year, representing a 25% cost reduction. The data is included in the independent research paper ‘Integrate to Zero’ prepared by Cornwall Insight and commissioned by the...

  • Press Releases

    Europe’s gas storage levels forecast to finish winter higher than 2020

    Modelling from Cornwall Insight suggests European gas storage levels will end this winter between 45-61% full, with an average of 55% and could reach 88-100% full by September 2023. The data, included in our insight paper ‘Crisis behind, challenge ahead: European gas storage levels for 2023’ shows this would be...

  • Press Releases

    Local Authorities in South East struggle to consult with communities on EV strategies

    A new survey looking at the readiness of local authorities (LAs) for the mass adoption of electric vehicles (EVs) in the South East has found that only 18% of those surveyed had consulted with local businesses on an EV charge point strategy, while half had spoken to local residents1. The...

  • Press Releases

    Victoria must increase transmission capacity to meet offshore wind targets

    Data analysed by Cornwall Insight Australia has shown that Victoria will need to increase its transmission capacity in the South East by an additional 2GW by 2035 and 7GW by 2040 if it wants to capitalise on new capacity and help meet the state’s ambitious offshore wind targets. The Bass...

  • Press Releases

    Long-term regulatory and policy changes needed to avoid stalls to business decarbonisation

    A new report from Cornwall Insight has set out a range of regulation and policy changes the government could examine if it wants to avoid a slowdown or stalling of business investment in decarbonisation. The report “Business net zero: Making progress in a challenging economy” warns that against a backdrop...

  • Press Releases

    Drop in power price predictions up to 2030 but prices to remain above pre-pandemic levels for next decade

    New data from Cornwall Insight has shown a drop in our predictions for power prices up to 2030 as Europe secures alternative energy supplies to compensate for reduced gas flows from Russia. The data included in our fourth 2022 – GB Power Market Outlook to 2030 – has shown price...

  • Press Releases

    Delays to onshore wind investment increase long-term power prices

    Note: Cornwall Insight Ireland release the 'All-Island Power Market Outlook 2023' on a quarterly basis. The increase in long-term power prices refers to the comparison with our Q3 Power Market Outlook released in October 2022. Data from Cornwall Insight Ireland’s fourth - ‘All-Island Power Market Outlook to 2030’ – has...

  • Press Releases

    Smart meters have potential to play critical role in energy security

    An independent research paper from Cornwall Insight, commissioned by Smart Energy GB, has set out the part smart meters could play in getting a grip on the energy crisis in Great Britain (GB). The paper – ‘Energy security and Smart Meters’– outlines how through empowering consumers to change how much...

  • Press Releases

    Co-location of energy could significantly cut the cost of expanding renewables

    A new report from Cornwall Insight and national law firm Weightmans on the co-location of energy assets, entitled “Co-location, co-location, co-location”, has laid out the significant cost savings of using one grid connection for multiple renewable generation or storage assets. The report outlines how co-location could incentivise the development of...

  • Press Releases

    Average power prices to remain elevated for the next three years

    Data from Cornwall Insight Australia’s Benchmark Power Curve (BPC)1 has forecast that from 2026, power prices in a neutral/base scenario will be, on average, ~$60-$100/MWh across all states in the National Electricity Market (NEM). This aligns with ~$40-80/MWh levels seen during 2021. The BPC has, however, forecast that the annual...

  • Press Releases

    Cornwall Insight responds to the Autumn Statement

    Dan Atzori, Research Partner at Cornwall Insight: “The energy announcements from the government's Autumn Statement today will be felt across households, businesses and throughout the UK energy market. “The extension of the Energy Price Guarantee (EPG) from April 2023, albeit at the higher £3,000 per year for an average consumer,...

  • Press Releases

    Imposing a windfall tax on renewables generators would be disproportionate to profits

    The share price data of Oil and Gas companies (O&G), large electricity generators (GenCos), and Listed Renewable Funds, analysed by Cornwall Insight, has shown extending the windfall tax to include renewable generators would be disproportionate and unfair given the difference in profit. Cornwall Insight have also warned the impact of...

  • Media Mentions

    City AM| Windfall tax on renewable generators

    A windfall tax on renewables generators would be disproportionate Matthew Chadwick a Lead Research Analyst at Cornwall Insight told City AM. With renewables having made significantly lower profits and being vulnerable to higher interest rates, a windfall tax could harm the roll out of renewables across the country, damaging net...

  • Press Releases

    Charge point operators facing uncertain future when government support scheme ends in April

    The energy crisis has pushed up the price of charging electric vehicles (EVs) on the public network, leaving both rapid and ultra-rapid charging, on average, significantly more expensive than refilling a petrol or diesel car. The government’s Energy Bill Relief Scheme (EBRS) has brought a six-month reprieve to business customers,...

  • Press Releases

    Victorian Government announcement could help address supply gaps but raises questions for other investors

    The Victorian Government’s announcement on Thursday to resurrect the State Electricity Commission (SEC) may largely address supply gaps identified from recent Cornwall Insight Australia analysis. According to the proposal, the SEC will receive $1b of initial investment to deliver 4.5GW of renewable power, this should help address the supply gap...

  • Press Releases

    Increase in renewables sees winter energy prices drop below historic average by 2027

    Data from Cornwall Insight Ireland’s third 2022 - ‘All-Island Power Market Outlook to 2030’ - has forecast Ireland is set to reach its 80% renewable target by 2030, with the increased energy security helping to stabilise the market and lower long-term energy prices. The report covering both Northern Ireland and...

  • Press Releases

    Offshore wind crucial to stabilising the UK energy market 

    Data from Cornwall Insight included in our third 2022 - GB Power Market Outlook to 2030 - has forecast a drop in prices from late 2023, as gas prices fall from current peaks. Later in the decade, renewables play a key role in the levelling out of prices despite increased...

  • Press Releases

    Cap on the excess revenues of renewable generators risks deterring investment

    In response to the announcement of a consultation on a Cost-Plus-Revenue Limit which will put a cap on all excess revenues renewable generators are receiving. Tom Faulkner, Head of Assets and Infrastructure and Networks at Cornwall Insight said: “The introduction of a cap on the revenues of renewable generators is...

  • Media Mentions

    Guardian| Hydrogen could add costs to household bills

    Cornwall Insight warned that using hydrogen for domestic heating could be very expensive, with the Guardian reporting on our joint report with renewable energy charity MCS Foundation. Our Senior Consultant Jitendra Patel, spoke on why it is simply uneconomical to use 100% hydrogen for household energy. Guardian

  • Press Releases

    New report shows fuel bills could rise 90% under Government’s hydrogen plans

    Replacing gas with hydrogen for home heating would result in huge energy bill rises for households over the next three decades, a report by energy analysts Cornwall Insight has found. The report, commissioned by MCS Charitable Foundation, projects that hydrogen would cost 70-90% more than gas on average. The authors...

  • Media Mentions

    Politics East| Energy Price Guarantee

    Our CEO Gareth Miller was a guest on Politics East, discussing the new Energy Price Guarantee and what this means for domestic and non-domestic consumers. Politics East