Wind

  • Press Releases

    Government’s renewable targets at risk as auction sees no bids for offshore wind

    The government has today unveiled the results of its fifth Contracts for Difference (CfD) auction (AR5), securing 3.7GW of renewable capacity. This is a marked reduction from last year’s secured capacity of 11GW, with government renewables targets potentially at risk. The auction, which saw developers able to bid on a...

  • 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

    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

    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

    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

    Battery storage to be a quarter of Ireland’s installed energy capacity by 2030

    Data from Cornwall Insight Ireland’s - ‘All-Island Power Market Outlook to 2030’ paper - has shown battery storage capacity will grow to become nearly a quarter (24%) of Ireland's installed energy capacity by 2030. The crucial technology will work to stabilise the network, as Ireland becomes more reliant on renewables...

  • Press Releases

    GB sees largest ever renewable energy auction at low prices and low consumer costs

    Today, the government released the results for the fourth round of the Contracts for Difference (CfD) scheme, securing a record 11GW’s of renewable capacity across 93 projects, nearly double the 5.8GW awarded in the 2019 Allocation Round 3. The greatest capacity – almost 7GW – has been secured from new...

  • Press Releases

    Wind generation is a double-edged sword for Australia

    Following the Victorian Government’s announcement of Australia’s first offshore wind targets1 as part of its transition towards a net-zero emission future, Cornwall Insight Australia have released research showing the impact wind generation has on energy wholesale prices. The data shows that while high levels of wind generation lower the median...

  • Media Mentions

    Smart Energy International| Applications for the government’s CFD auction

    As the applications for the government’s largest-ever Contracts for Difference auction closed, Tim Dixon, Lead Analyst, spoke to Smart Energy International on why developers were considering alternative options. A more inclusive funding round from the government has also come with high levels of competition, likely to push down bids. Newly...

  • Media Mentions

    Renewable Energy Magazine | 8 GW of wind eligible for CfD AR4

    Cornwall Insight's research on the Contracts for difference (CfD) scheme featured in Renewable Energy Magazine. The research shows that eligible solar pipeline of ~3 GW, up by ~1.8 GW on the same time 12 months ago, with CfD eligible onshore wind capacity at ~5 GW, up by around 1 GW...

  • Press Releases

    Up to 1900MW of wind eligible for RESS-2

    Cornwall Insight’s ‘Route to RESS service’ has examined the potential capacity of wind and solar that could enter the Renewable Electricity Support Scheme (RESS-2) auction in Ireland, with the analysis showing that approximately 1900MW (1800GWh) of solar and 1600MW (4800GWh) of wind is eligible to bid for the 3500GWh pot....

  • Press Releases

    Minimal wind generation in Victoria highlights the importance of good interconnection

    According to the latest research from Cornwall Insight Australia, the minimal wind generation observed at the beginning of July in Victoria highlights the importance of good interconnection between states as variable renewable energy (VRE) grows. Figure 1 shows the half-hourly generation by technology within Victoria over the second week of...

  • Press Releases

    Incidents of price cannibalisation of renewable assets on the rise

    Research from Cornwall Insight Australia shows that the growth of variable renewable energy (VRE) generation significantly impacts their captured price. In fact, in FY18, 98% of the grid-scale solar generation volumes captured prices above $50/MWh. However, this has reduced to 12% in FY21. On top of this, wind and solar...

  • Press Releases

    48.9GW of new renewables projects currently in the scoping stages

    Renewables projects labelled as “scoping” currently represents 50% or 48.9GW of the total viable pipeline capacity*, according to the latest analysis from Cornwall Insight. Of this 48.9GW "scoping" total, 38.6GW is from offshore wind, 5.0GW from battery projects, 3.0GW from onshore wind and 1.5GW from solar PV. This includes some...

  • Media Mentions

    Daily Express | Scottish policy

    James Brabben Wholesale Manager at Cornwall Insight was quoted in the Daily Express discussing renewable energy in Scotland. He explained there may be issues on the energy agenda Scottish politicians would like to control, but that might not be possible because policies are made elsewhere. Discussing the Contracts for Difference...

  • Media Mentions

    The Independent | UK’s energy grid

    Tom Edwards Modelling Consultant at Cornwall Insight was quoted in The Independent discussing the energy grid and how it is holding back the transition to net zero. There is a need for change according to Tom. Network charging arrangements were built in the 1990s when it was thought we were...

  • Media Mentions

    The Guardian | New wind power record

    Due to Storm Bella, on Boxing Day, more than half of the country’s daily electricity came from wind turbines. However, the reliability of wind energy is a concern. Our research shows that the electricity system operator increased its reliance on gas-fired power plants by 20% in September compared with the...

  • Press Releases

    Current offshore wind pipeline falls short of 40GW by 2030 target

    Latest figures from Cornwall Insight’s ‘Renewables pipeline tracker report’ show that even if all current offshore wind sites with leasing are developed in the coming years, total offshore wind capacity would only reach 29.7GW by 2030. The report currently tracks 22 sites across both floating and fixed foundation technologies, with...

  • Media Mentions

    The Guardian | Coal plants used

    Tom Edward Senior Modelling Consultant spoke to The Guardian about the coal-fired plants being fired up in the UK. The supply squeeze had caused market prices for electricity generated in the early evening, when electricity demand typically spikes, to climb to over £313 per megawatt hours (MWh).Renewable electricity is in...

  • Media Mentions

    Riviera | CfD pipeline

    Our CfD pipeline predictions featured in Riviera. Our figures show the total 17 GW eligible, almost half (7.9 GW) is offshore wind. The rest is 7.6 GW of ‘Pot 1’ established technologies and 1.4 GW of ‘Pot 2’ less established technologies. Recent announcements by BEIS have confirmed the CfD AR4...

  • Press Releases

    Up to 17GW of renewables eligible for CfD AR4

    Cornwall Insight’s Renewable Pipeline Tracker service has examined the potential capacity that could enter the Contract for Difference (CfD) Allocation Round (AR) 4, with the analysis showing there is currently 17GW* of technologies likely to be eligible to bid. This analysis is based on Cornwall Insight’s unique tiering system in...

  • Press Releases

    Ireland will need to more than double its renewable capacity over the next 25 years to meet 2050 targets

    Findings from Cornwall Insight's 'All-Island forward curve' – a comprehensive market and asset-level power price modelling service – shows that Ireland will need to more than double its renewable capacity over the next 25 years if it is to meet net zero emissions by 2050. The below table shows how...

  • Press Releases

    This winter could see 1.3GW of new wind come online

    Forecasts using Cornwall Insight's 'Renewables pipeline tracker' report shows that a total of 1.3GW of new wind capacity could come online this winter. This is ~5% rise in total capacity, which could reach 25.4GW. The below graph highlights the forecast growth of wind capacity to March 2021. Lucy Dolton, Analyst...

  • Media Mentions

    reNEWS | Wind capacity grows

    Cornwall Insight research showing a total of 1300MW of new wind capacity could come online this winter in the UK was showcased in Renews New capacity anticipated this winter is almost wholly attributed to the Contracts for Difference scheme.Additionally, according to Cornwall Insight's Renewables Pipeline Tracker report, a further 400MW...

  • Press Releases

    Great Britain could become net exporter of power by 2040s

    Interconnection with EU nations, regardless of trading arrangements post-Brexit, will continue to play a pivotal role in driving wholesale power prices and system flexibility in the future. Modelling of the GB and EU markets by Cornwall Insight shows that increased interconnection through the 2020s and 2030s could provide a route...

  • Media Mentions

    CNN Business | 2030 offshore wind target

    Tom Edwards Senior Modelling Consultant at Cornwall Insight discussed the offshore wind target with CNN Business he explained that costs for offshore wind will decline further over time as development increases. While offshore wind farms cost about twice as much to set up as onshore wind farms, they produce a...

  • Press Releases

    The Renewables Obligation Certificate market risks being oversupplied

    Forecasts from Cornwall Insight highlight the Renewable Obligation Certificates (ROCs) supply and demand gap will be narrower in the 2020-21 compliance period than in previous years, due to lower overall electricity demand expectations. In fact, there is a material risk of ROCs being oversupplied should certain conditions arise, which would...

  • Press Releases

    Wind generation’s share of non-coal merchant revenues increased 30% in three years

    The energy transition is having a significant effect on merchant revenues for different generation types across the NEM. Research from Cornwall Insight Australia suggests wind generation captured almost half of the total spot market revenues in New South Wales (NSW) last quarter, accounting for more than gas and hydro’s share...

  • Media Mentions

    Icon | 46GW required to meet targets

    Forecasts from our ‘Benchmark power curve’ suggesting that up to ~46GW of new build renewable technology, ~11GW onshore wind, ~10GW solar and ~25GW offshore wind, may need to be developed by 2030 was featured in Icon. The net zero target is defining the shape of the future power market in...