Dec 21, 2023
As Solivus enter into the festive period with our mission - to decarbonise the built environment with light-weight solar - at the front of our minds, we’d like to take this opportunity to shed a little light on some good climate news. As the year comes to a close, we look back on some of the major developments sweeping the renewable and solar sectors.
Here are five solar successes of 2023, which have got the team at Solivus feeling merry and bright:
The UK has beat its record of certified solar installations, reaching its 2022 figures by the end of September. A whopping 183,022 solar PV installations took place as of December 2023, as was revealed data from the Micro generation Certification Scheme. This topped 2022’s figures by 45,022. Source.
Chis Hewett, Chief Executive for Solar Energy UK and joint Chair of the Solar Task force commented: “It’s no wonder that people are queuing up to go solar.Installing a solar energy system is one of the best investments available to home owners and businesses alike.” Source.
Overall, investment in clean energy has risen an impressive 40% since 2020. The IEA (that’s International Energy Agency) estimated that “around the world, $1.7 trillion would be invested in clean energy this year, compared to $1 trillion in fossil fuels.” Source.
You may have seen that the team at Solivus were successful in our own investment raise in the final quarter of this year, reaching 138% of our Crowdfunding target and £1.2 million on the Seedrs platform. A huge Solivus thank you to all of those who invested.
As outlined in the Paris agreement, signed in 2016, and subsequent policies and legislation, driven by the need to meet Net Zero goals by 2050 to combat climate change, businesses have become increasingly focused on sustainability in recent years. “According to a 2023 LinkedIn report, the number of job postings requiring at least one sustainability-related skill grew 22.4% between 2022 and 2023.” Source.
At Solivus, we’ll be using the raise from our latest Crowdfunding round to expand our team, to meet the demands of our sales pipeline, as decarbonisation – (that’s lowering carbon emissions), soars to the top of organisational agendas. For us, the future is, and always has been green!
The IEA released its World Energy Outlook in October, noting that the world was on track to generate more than 500 gigawatts of renewable generation capacity. In comparison, 300 gigawatts were generated in all of 2022. Source.
Researchers from Nature Communications highlighted the momentum of the solar energy transition, which they claimed to be “set to dominate the global electricity market before 2050.” Source.
The study went on to highlight: “Solar energy is the most widely available energy resource on Earth, and its economic attractiveness is improving fast in a cycle of increasing investments.” Source.
Environmental, social and governance (commonly known as ESG) has steamrolled (and quite rightly), its way into international governmental policy, as the world embarks on the monumental mission to save our planet.
One such example of which was November’s Autumn Statement, which highlighted significant developments which should have positive implications for the solar industry. The Chancellor outlined plans to make ‘full expensing’ permanent, alleviating some of the costs of installing solar for UK businesses. Full expensing means that before businesses pay Corporation Tax, they can subtract the cost of specific plant and machinery.
Also worth noting was “an exemption on the 45% windfall tax imposed on renewable projects via the Electricity Generator Levy (EGL) on ‘extraordinary returns’ which was extended and expanded in last year’s Autumn Statement. Following the announcement, all new renewable generation projects and extensions to existing projects that have had a ‘substantive decision to proceed on or after 22 November will be exempt from this tax.” Source.
Fast forward to COP28, held in Dubai this month. The UN made a statement detailing the summit's closing, “with an agreement that signals the ‘beginning of the end’ of the fossil fuel era by laying the ground for a swift, just and equitable transition, underpinned by deep emissions cuts and scaled-up finance.” Source.
At Solivus, we look forward to the year ahead, and working with our clients, both existing and prospective, as they continue to transition towards Net-Zero and complete successful solar installations. We hope that businesses continue to action their sustainable goals, turning previously unused commercial rooftops into solar power stations, accelerating our mission to decarbonise the built environment.
If you’d like to discuss a solar project with us, please email email@example.com.
And in the meantime, have a very Merry Christmas, from all of the team at Solivus!