Better Market Rates for London Solar Projects?

London based Solar PV generators may soon be able to sell the electricity they generate to the at an increased rate following an application for a Licence Lite by the city.  The Greater London Authority is the very first authority to apply to Ofgem for the new type of electricity supply license.   The license will initially allow the GLA to buy excess electricity produced by London’s boroughs and public bodies before able to sell it on, at cost price, to other public sector organizations such as Transport for London, the Met Police and NHS hospitals.

However, London Mayor Boris Johnson is currently actively exploring the possibility of widening the license to include private sector small energy producers as well, including Solar PV arrays.

The mayor hopes that better rates for small energy suppliers will help stimulate investment and growth in low carbon developments in order to help London meet its target of producing 25% of its energy locally by 2025.

Johnson said: “We need to do everything we can to develop a more secure, cost-effective and sustainable energy supply for the capital. By pouring more investment into locally sourced energy supplies and reducing carbon emissions we will not only save money for Londoners but drive innovation, jobs and growth in this burgeoning sector.”

The London Assembly estimates that in the short term, the move could attract more than £300 million worth of investment for 22 heat and power projects already in the pipeline. In the longer term, it could help generate over £8 billion of investment and around 850 jobs a year until 2025.

This entry was posted on Monday, April 8th, 2013 at 10:19 am and is filed under Energy Efficiency, Solar PV. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.