Within A Decade, We Will All Be Driving Electric Cars


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Electric Vehicle Price Parity 2027 signals cheaper EV manufacturing as battery costs plunge, widening model lineups, and tighter EU emissions rules; UBS and BloombergNEF foresee parity, with TCO advantages over ICE amid growing fast-charging networks.

 

Key Points

EV cost parity in 2027 when manufacturing undercuts ICE, led by cheaper batteries, wider lineups, and emissions policy.

✅ Battery costs drop 58% next decade, after 88% fall

✅ Manufacturing parity across segments from 2027

✅ TCO favors EVs; charging networks expand globally

 

A Bloomberg/NEF report commissioned by Transport & Environment forecasts 2027 as the year when electric vehicles will start to become cheaper to manufacture than their internal combustion equivalents across all segments, aligning with analyses that the EV age is arriving ahead of schedule for consumers and manufacturers alike, mainly due to a sharp drop in battery prices and the appearance of new models by more manufacturers.

Batteries, which have fallen in price by 88% over the past decade and are expected to plunge by a further 58% over the next 10 years, make up between one-quarter and two-fifths of the total price of a vehicle. The average pre-tax price of a mid-range electric vehicle is around €33,300, and higher upfront prices concern many UK buyers compared to €18,600 for its diesel or gasoline equivalent. In 2026, both are expected to cost around €19,000, while in 2030, the same electric car will cost €16,300 before tax, while its internal combustion equivalent will cost €19,900, and that’s without factoring in government incentives.

Other reports, such as a recent one by UBS, put the date of parity a few years earlier, by 2024, after which they say there will be little reason left to buy a non-electric vehicle, as the market has expanded from near zero to 2 million in just five years.

In Europe, carmakers will become a particular stakeholder in this transition due to heavy fines for exceeding emissions limits calculated on the basis of the total number of vehicles sold. Increasing the percentage of electric vehicles in the annual sales portfolio is seen by the industry as the only way to avoid these fines. In addition to brands such as Bentley or Jaguar Land Rover, which have announced the total abandonment of internal combustion engine technology by 2025, or Volvo, which has set 2030 as the target date, other companies such as Ford, which is postponing this date in its home market, also set 2030 for the European market, which clearly demonstrates the suitability of this type of policy.

Nevertheless internal combustion vehicles will continue to travel on the roads or will be resold in developing countries. In addition to the price factor, which is even more accentuated when estimates are carried out in terms of total cost of ownership calculations due to the lower cost of electric recharging versus fuel and lower maintenance requirements, other factors such as the availability of fast charging networks must be taken into account.

While price parity is approaching, it is worth thinking about the factors that are causing car sales, which are still behind gasoline models in share, to suffer: the chip crisis, which is strongly affecting the automotive industry and will most likely extend until 2022, is creating production problems and the elimination of numerous advanced electronic options in many models, which reduces the incentive to purchase a vehicle at the present time. These types of reasons could lead some consumers to postpone purchasing a vehicle precisely when we may be talking about the final years for internal combustion technology, which would increase the likelihood that, later on and as the price gap closes, they would opt for an electric vehicle.

Finally, in the United States, the ambitious infrastructure plan put in place by the Biden administration also promises to accelerate the transition to electric vehicles by addressing key barriers to mainstream adoption such as charging access, which in turn is fueling the interest of automotive companies to have more electric vehicles in their range. In Europe, meanwhile, more Chinese brands offering electric vehicles are beginning to enter the most advanced markets, such as Norway and the Netherlands, with plans to expand to the rest of the continent with very competitive offers in terms of price.

One way or another, the future of the automotive industry is electric, and the transition will take place during the remainder of this decade. You might want to think about it if you are weighing whether it’s time to buy an electric car this year.

 

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Canada and British Columbia invest in green energy solutions

British Columbia Green Infrastructure Funding expands CleanBC Communities Fund projects, from EV charging stations to sewage heat recovery, delivering low-carbon heat in Vancouver and supporting Indigenous communities and COVID-19 recovery through the Green Infrastructure Stream.

 

Key Points

A joint federal-provincial program backing CleanBC to fund EV chargers, sewage heat recovery, and low-carbon heat.

✅ Funds EV charging across Vancouver Island and northern B.C.

✅ Expands sewage heat recovery via Vancouver's NEU

✅ Joint federal, provincial, local, and Indigenous partners

 

The governments of Canada and British Columbia are investing in infrastructure to get projects under way that meet people's needs, address the effects of the COVID-19 pandemic, and help communities restart their economies.  

Strategic investments in green infrastructure are key to creating clean healthy communities, making life more affordable, and building a clean electricity future for Canada.

Today, the Honourable Jonathan Wilkinson, Minister of Environment and Climate Change and Member of Parliament for North Vancouver, on behalf of the Honourable Catherine McKenna, Minister of Infrastructure and Communities, and the Honourable George Heyman, B.C. Minister of Environment and Climate Change Strategy, announced funding for 11 projects, alongside initiatives like the province's hydrogen project, to help B.C. communities save energy and reduce pollution.  

In Vancouver, the Sewage Heat Recovery Expansion Project will increase the capacity of the Neighbourhood Energy Utility (NEU) to provide buildings in the False Creek area with low-carbon heat and hot water. The NEU recycles waste heat and uses a mix of renewable and conventional natural gas to reduce harmful emissions.

Funding is also going towards expanding the network of Level-2 electric vehicle (EV) charging stations across the province. More than 80 new stations will be installed in communities across mid-Vancouver Island, as well as northern and central B.C., making clean transportation options, supported by incentives for zero-emission vehicles, more viable for more people.

These, along with the other projects announced today, will create jobs and strengthen local economies now while promoting sustainable growth and residents' long-term health and well-being.

The Government of Canada is investing more than $28.5 million in these projects through the Green Infrastructure Stream (GIS) of the Investing in Canada plan, and local and Indigenous communities are contributing more than $13 million. The Government of British Columbia is contributing nearly $18 million through the CleanBC Communities Fund, part of the federal Investing in Canada plan's Green Infrastructure Stream, which also supports rebates for home and workplace charging initiatives.

Quotes

"Expanding electric vehicle charging stations across Vancouver Island will make clean transportation more viable for more people. Encouraging green energy solutions like this is essential to building strong resilient communities. Canada's Infrastructure plan invests in thousands of projects, creates jobs across the country, and builds stronger communities."

The Honourable Jonathan Wilkinson, Minister of Environment and Climate Change and Member of Parliament for North Vancouver, on behalf of the Honourable Catherine McKenna, Minister of Infrastructure and Communities

"This investment through the Green Infrastructure Stream is a great example of how federal partnerships with all levels of government can ensure a sustainable future for generations. Amidst COVID-19, we can rebuild better with a green recovery."

Hedy Fry, Member of Parliament for Vancouver Centre

"People deserve access to clean air, clean energy and clean economic opportunities and by investing in new clean infrastructure projects, we will reduce pollution, build better buildings, improve transportation options with EV charger rebates and make life more affordable for people. By working together with the City of Vancouver and other B.C. communities, along with the federal government, we're helping build back a stronger, better B.C. for everyone following the impacts of COVID-19 through our CleanBC plan."

The Honourable George Heyman, Minister of Environment and Climate Change Strategy Government

"This is an important investment when it comes to addressing the climate emergency our city is facing. Nearly 60 per cent of carbon pollution created in Vancouver comes from burning natural gas to heat our buildings and provide hot water. This investment from our provincial and federal partners will help us greatly expand the Neighbourhood Energy Utility to reduce our carbon footprint even further."

His Worship, Kennedy Stewart, Mayor of Vancouver

Quick facts

Through the Investing in Canada Plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada's rural and northern communities.
The Government of Canada has invested $4.2 billion in 525 infrastructure projects across British Columbia under the Investing in Canada plan.
To support Canadians and communities during the COVID-19 pandemic, a new stream has been added to the over $33-billion Investing in Canada Infrastructure Program to help fund pandemic-resilient infrastructure. Existing program streams have also been adapted to include more eligible project categories.
The new Canada Healthy Communities Initiative will provide up to $31 million in existing federal funding to support communities as they deploy innovative ways to adapt spaces and services to respond to immediate and ongoing needs arising from COVID-19 over the next two years.
The 11 projects are part of the first intake of the CleanBC Communities Fund, which committed more than $63 million in joint federal-provincial funding. Additional projects from the first intake will be announced soon.
The second intake for the CleanBC Communities Fund is now open for applications from local governments, Indigenous groups, not-for-profits and for-profit organizations in B.C.

 

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Ontario Launches Hydrogen Innovation Fund

Ontario Hydrogen Innovation Fund accelerates clean electricity integration, hydrogen storage, grid balancing, and electrolyzer pilot projects, supporting EV production, green steelmaking, and clean manufacturing under Ontario's Low-Carbon Hydrogen Strategy via IESO-administered funding.

 

Key Points

A $15M program funding hydrogen storage, grid pilots to integrate low-carbon hydrogen into Ontario's power system.

✅ Administered by IESO; applications opened April 2023.

✅ Supports existing, new, and research hydrogen projects.

✅ Backs grid storage, capacity, demand management pilots.

 

The Ontario government is establishing a Hydrogen Innovation Fund that will invest $15 million over the next three years to kickstart and develop opportunities for hydrogen to be integrated into Ontario’s clean electricity system, including hydrogen electricity storage. This launch marks another milestone in the implementation of the province’s Low-Carbon Hydrogen Strategy, supporting a growing hydrogen economy across the province, positioning Ontario as a clean manufacturing hub.

“When energy is reliable, affordable and clean our whole province wins,” said Todd Smith, Minister of Energy. “The Hydrogen Innovation Fund will help to lay the groundwork for hydrogen to contribute to our diverse energy supply, supporting game-changing investments in electric vehicle production and charging infrastructure across the province, green steelmaking and clean manufacturing that will create good paying jobs, grow our economy and reduce emissions.”

Hydrogen Innovation Fund projects would support electricity supply, capacity, battery storage and demand management, and support growth in Ontario’s hydrogen economy. The Fund will support projects across three streams:

Existing facilities already built or operational and ready to evaluate how hydrogen can support Ontario’s clean grid amid an energy storage crunch in Ontario.
New hydrogen facilities not yet constructed but could be in-service by a specified date to demonstrate how hydrogen can support Ontario’s clean grid.
Research studies investigating the feasibility of novel applications of hydrogen or support future hydrogen project decision making.

The Hydrogen Innovation Fund will be administered by the Independent Electricity System Operator, which is opening applications for the fund in April 2023. Natural Resources Canada modelling shows that hydrogen could make up about 30 per cent of the country's fuels and feedstock by 2050, as provinces advance initiatives like a British Columbia hydrogen project demonstrating scale and ambition, and create 100,000 jobs in Ontario. By making investments early to explore applications for hydrogen in our clean electricity sector we are paving the way for the growth of our own hydrogen economy.

“As a fuel that can be produced and used with little to no greenhouse gas emissions, hydrogen has tremendous potential to help us meet our long-term economic and environmental goals,” said David Piccini, Minister of the Environment, Conservation and Parks. “Our government will continue to support innovation and investment in clean technologies that will position Ontario as the clean manufacturing and transportation hub of the future while leading Canada in greenhouse gas emission reductions.”

The province is also advancing work to develop the Niagara Hydrogen Centre, led by Atura Power, which would increase the amount of low-carbon hydrogen produced in Ontario by eight-fold. This innovative project would help balance the electricity grid while using previously unutilized water at the Sir Adam Beck generating station to produce electricity for a hydrogen electrolyzer, reflecting broader electrolyzer investment trends in Canada. To support the implementation of the project, the IESO entered into a contract for grid regulation services at the Sir Adam Beck station starting in 2024, which will support low-carbon hydrogen production at the Niagara Hydrogen Centre.

These investments build on Ontario’s clean energy advantage, which also includes the largest battery storage project planned in southwestern Ontario, as our government makes progress on the Low-Carbon Hydrogen Strategy that laid out eight concrete actions to make Ontario a leader in the latest frontier of energy innovation – the hydrogen economy.

 

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China To Generate Electricity From Compressed Air

China Compressed-Air Energy Storage enables grid flexibility using salt caverns in Jiangsu, delivering long-duration storage for wind and solar, 60 MW capacity, dispatchable power, and low-cost, safe, round-the-clock clean energy integration.

 

Key Points

Stores off-peak power by compressing air in salt caverns, then drives turbines on demand to balance renewables.

✅ 60 MW Jintan plant connects to grid; commercial CAES milestone

✅ Uses salt caverns; low-cost long-duration storage; high safety

✅ Balances wind and solar; improves grid flexibility and reliability

 

China is set to connect its first commercial compressed-air energy storage plant to the grid as it seeks more ways to harness fast-growing clean power resources, including new hydropower alongside other long-duration options such as gravity power technologies for around-the-clock use.

China Huaneng Group Co. said its Jiangsu Jintan Salt Cave project recently underwent four days of successful trials and is now ready for commercial operations. The 60-megawatt plant will be the largest compressed air energy storage plant built anywhere in the world since 1991, and the first in China outside of small-scale technology demonstration projects, as China's electricity demand patterns remain in flux, according to BloombergNEF.

The plant will use electricity at night when demand is low to pump air into an underground salt cavern. Then, when demand is high during the day, it can release the compressed air at high enough pressure to spin a turbine and produce electricity, aligning with projections that 60% electricity by 2060 could be reached according to industry outlooks.

Underground compressed air is considered one of the least costly forms of long-term energy storage and has low safety concerns, according to BloombergNEF. But its reliance on certain topographical features such as underground caverns may limit wider deployment, a challenge shared by other regions weighing large-scale storage options for reliability. It’s gained a foothold in China, with nearly four gigawatts of projects in the pipeline, while there are less than two gigawatts combined planned in the rest of the world. Shandong province said just this week in this year's work plan that it would build three projects using the technology.

The Jintan salt caves in Jiangsu, China’s second-biggest provincial economy just north of Shanghai, can store about 10 million cubic meters of gas, enough to power four gigawatts of compressed air plants, according to a Science and Technology Daily report from last year. 

Energy storage is a key part of China’s plan to build a larger and more flexible grid as it tries to peak carbon emissions before 2030 and zero them out before 2060, alongside continued nuclear energy development to stabilize baseload supply. The country is adding a world-leading amount of wind and solar power every year, but their intermittency strains grids that need to be able to deliver electricity all the time, spurring interest in green hydrogen as a flexible complement. China has set targets of 30 gigawatts of new-energy storage by 2025 and 120 gigawatts of pumped hydro storage by 2030. 

 

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These companies are using oceans and rivers to generate electricity

Tidal Energy harnesses ocean currents with tidal turbines to deliver predictable, renewable power. From Scotland's Orkney to New York's East River, clean baseload electricity complements wind and solar in decarbonizing grids.

 

Key Points

Tidal energy uses underwater turbines to capture predictable ocean currents, delivering reliable, low-carbon power.

✅ Predictable 2-way flows enable forecastable baseload

✅ Higher energy density than wind, slower flow speeds

✅ Costs remain high; scaling and deployment are challenging

 

As the world looks to curb climate change and reduce fossil fuel emissions, some companies are focusing on a relatively untapped but vast and abundant source of energy — tidal waves.

On opposite sides of the Atlantic, two firms are working to harness ocean currents in different ways to try to generate reliable clean energy.

Off the coast of Scotland, Orbital Marine Power operates what it says is the "most powerful tidal turbine in the world." The turbine is approximately the size of a passenger airplane and even looks similar, with its central platform floating on the water and two wings extending downwards on either side. At the ends of each wing, about 60 feet below the surface, are large rotors whose movement is dictated by the waves.

"The energy itself of tidal streams is familiar to people, it's kinetic energy, so it's not too dissimilar to something like wind," Andrew Scott, Orbital's CEO, told CNN Business. "The bits of technology that generate power look not too different to a wind turbine."

But there are some key differences to wind energy, primarily that waves are far more predictable than winds. The ebb and flow of tides rarely differs significantly and can be timed far more precisely.

Orbital Marine Power's floating turbines off the Scottish coast produce enough energy to power 2,000 homes a year, while another Scottish tidal project recently produced enough for nearly 4,000 homes.

Orbital Marine Power's floating turbines off the Scottish coast produce enough energy to power 2,000 homes a year.

"You can predict those motions years and decades [in] advance," Scott said. "But also from a direction perspective, they only really come from two directions and they're almost 180 degrees," he added, unlike wind turbines that must account for wind from several different directions at once.

Tidal waves are also capable of generating more energy than wind, Scott says.

"Seawater is 800 times the density of wind," he said. "So the flow speeds are far slower, but they generate far more energy."

The Orbital turbine, which is connected to the electricity grid in Scotland's Orkney, can produce up to two megawatts — enough to power 2,000 homes a year — according to the company.

Scott acknowledges that the technology isn't fully mainstream yet and some challenges remain including the high cost of the technology, but the reliability and potential of tidal energy could make it a useful tool in the fight against climate change, as projects like Sustainable Marine in Nova Scotia begin delivering power to the grid.

"It is becoming increasingly apparent that ... climate change is not going to be solved with one silver bullet," he said.


'Could be 24/7 power'
Around 3,000 miles away from Orbital's turbines, Verdant Power is using similar technology to generate power near Roosevelt Island in New York City's East River. Although not on the market yet, Verdant's turbines set up as part of a pilot project help supply electricity to New York's grid. But rather than float near the surface, they're mounted on a frame that's lowered to the bottom of the river.

"The best way to envision what Verdant Power's technology is, is to think of wind turbines underwater," the company's founder, Trey Taylor, told CNN Business. And river currents tend to provide the same advantages for energy generation as ocean currents, he explained (though the East River is also connected to the Atlantic).

"What's nice about our rivers and systems is that could be 24/7 power," he said, even as U.S. offshore wind aims to compete with gas. "Not to ding wind or solar, but the wind doesn't always blow and the sun doesn't always shine. But river currents, depending on the river, could be 24/7."

Verdant Power helps supply electricity to New York City
Over the course of eight months, Verdant has generated enough electricity to power roughly 60 homes — though Taylor says a full-fledged power plant built on its technology could generate enough for 6,000 homes. And by his estimate, the global capacity for tidal energy is enormous, with regions like the Bay of Fundy pursuing new attempts around Nova Scotia.


A costly technology
The biggest obstacle to reaching that goal at the moment is how expensive it is to set up and scale up tidal power systems.

"Generating electricity from ocean waves is not the challenge, the challenge is doing it in a cost-effective way that people are willing to pay for that competes with ... other sources of energy," said Jesse Roberts, Environmental Analysis Lead at the US government-affiliated Sandia National Laboratories. "The added cost of going out into the ocean and deploying in the ocean... that's very expensive to do," he added. According to 2019 figures from the US Department of Energy, the average commercial tidal energy project costs as much as $280 per megawatt hour. Wind energy, by comparison, currently costs roughly $20 per megawatt hour and is "one of the lowest-priced energy sources available today," with major additions like the UK's biggest offshore wind farm starting to supply the grid, according to the agency.

When operational, the Orbital turbine's wing blades drop below the surface of the water and generate power from ocean currents.

When operational, the Orbital turbine's wing blades drop below the surface of the water and generate power from ocean currents.

Roberts estimates that tidal energy is two or three decades behind wind energy in terms of adoption and scale.

The costs and challenges of operating underwater are something both Scott and Taylor acknowledge.
"Solar and wind are above ground. It's easy to work with stuff that you can see," Taylor said. "We're underwater, and it's probably easier to get a rocket to the moon than to get these to work underwater."
But the goal of tidal power is not so much to compete with those two energy sources as it is to grow the overall pie, alongside innovations such as gravity power that can help decarbonize grids.

"The low hanging fruit of solar and wind were quite obvious," Scott said. "But do they have to be the only solution? Is there room for other solutions? I think when the energy source is there, and you can develop technologies that can harness it, then absolutely."
 

 

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Subsea project to bring renewable power from Scotland to England awarded $1.8bn

Eastern Green Link 1 is a 190km HVDC subsea electricity superhighway linking Scotland to northern England, delivering renewable energy, boosting grid capacity, and enhancing energy security for National Grid and Scottish Power.

 

Key Points

A 190km HVDC subsea link sending Scottish renewables to northern England, boosting grid capacity and UK energy security.

✅ 190km HVDC subsea route from East Lothian to County Durham

✅ Cables by Prysmian; converter stations by GE Vernova, Mytilineos

✅ Powers the equivalent of 2 million UK households

 

One of Britain’s biggest power grid projects has awarded contracts worth £1.8bn for a 190km subsea electricity superhighway, akin to a hydropower line to New York in scale, to bring renewable power from Scotland to the north of England.

National Grid and Scottish Power, following a recent 2GW substation commissioning, plan to begin building the “transformative” £2.5bn high-voltage power line along the east coast of the country from East Lothian to County Durham from 2025.

The Eastern Green Link 1 (EGL1) project is one of Britain’s largest grid upgrade projects in generations and has been designed to carry enough clean electricity to power the equivalent of 2 million households.

The UK is under pressure to deliver a power grid overhaul, including moves to fast-track grid connections nationwide, as it prepares to double its demand for electricity by 2040 as part of a plan to cut the use of gas and other fossil fuels.

The International Energy Agency has forecast that 600,000km of electric lines will need to be either added or upgraded across the UK by the end of the next decade to meet its climate targets, amid a global race to secure supplies of high voltage cabling and other electrical infrastructure components and to explore superconducting cables to cut losses.

The EGL1 project has awarded Prysmian Group, an international cable maker, the contract to deliver nearly 400km of power cable. The contract to supply two HVDC technology converter stations, one at each end of the cable, has been awarded to GE Vernova and Mytilineos.

The upgrades are expected to cost tens of billions of pounds, according to National Grid, which faces plans for an independent system operator overseeing Great Britain’s electricity market. The FTSE 100 energy company has warned that five times as many pylons and underground lines need to be constructed by the end of the decade than in the past 30 years, and four times more undersea cables laid than there are at present.

Britain’s power grid upgrades are also expected to emerge as an important battleground in the general election. The next government will need to balance the strong local opposition to new grid infrastructure across rural areas of the UK against the climate and economic benefits of the work.

Research undertaken by National Grid has found there will be an estimated 400,000 jobs created by 2050 due to the work needed to rewire Britain’s grid, a trend mirrored by recent cross-border transmission approvals in North America, including about 150,000 jobs anticipated in Scotland and the north of England.

Peter Roper, the project director for EGL1, said the super-cable would be “a transformative project for the UK, enhancing security of supply and helping to connect and transport green power for all customers”.

He added: “These contract announcements are big wins for the supply chain and another important milestone as we build the new network infrastructure to help the UK meet its net zero and energy security ambitions.

 

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Centrica acquires battery storage project that could "unlock North Sea wind energy potential"

Centrica Dyce Battery Storage will deliver 30MW 2hr capacity in Aberdeenshire, capturing North Sea offshore wind to reduce curtailment, enhance grid flexibility, and strengthen UK energy independence with reliable renewable energy balancing.

 

Key Points

A 30MW 2hr battery in Dyce, Aberdeenshire, storing North Sea wind to cut curtailment and ease UK grid constraints.

✅ 30MW 2hr system near North Sea offshore wind connection

✅ Cuts curtailment and boosts grid flexibility and reliability

✅ Can power 70,000 homes for an hour with daily cycles

 

CENTRICA Business Solutions has secured the development rights for a fully consented 30MW 2hr battery storage plant in Aberdeenshire that will help maximise the use of renewable energy in the Scottish North Sea.

The site in Dyce, near Aberdeen is located near a connection for North Sea UK offshore wind farms and will contribute towards managing network constraints – by storing electricity when it is abundant for times when it is not, helping improve the energy independence of the UK and reduce our reliance on fossil fuels. 

Last year, the National Grid paid £244million to wind farm operators to shut down turbines, as they risked overloading the Scottish grid, a process known as curtailment. Battery storage is one method of helping to utilise that wasted energy resource, ensuring fewer green electrons are curtailed. 

Once built, the 30MW 2hr Dyce battery storage plant will store enough energy to power 70,000 homes for an hour. This discharge happens up to four hours per day, as seen in other large-scale deployments like France's largest battery platform that optimise grid balancing.

The project was developed by Cragside Energy Limited, backed by Omni Partners LLP, and obtained planning consent in November 2021. The go-live date for the project is mid-2024, construction should last eight months and will be aligned with the grid connection date.

“Battery storage can play a strategic role in helping to transition away from fossil fuels, by smoothing out the peak demand and troughs associated with renewable energy generation,” said Bill Rees, Director of Centrica Energy Assets. “We should treat renewable energy like a precious resource and projects like this can help to maximise its efficacy.” 

The project forms part of Centrica Energy Assets’ plan to deliver 900MW of solar and battery storage assets by 2026, increasingly paired with solar in global deployments. Centrica already owns and operates the 49MW fast response battery at Roosecote, Cumbria. 

Centrica Business Solutions Managing Director Greg McKenna, said: “Improving the energy independence of the UK is essential to help manage energy costs and move away from fossil fuels. The Government has set a target of a green electricity grid by 2035 – that’s only achievable if we build out the level of flexibility in the system, to help manage supply and demand.”

Centrica Energy Assets will work with Cragside Energy to identify new opportunities in the energy storage space. Cragside Energy’s growing pipeline exceeds 200MW, and focuses on low carbon and flexible assets, including energy storage, solar and peaking plant schemes, supported by falling battery costs across the sector.

Ben Coulston, Director of Cragside Energy, added: “Targeted investment into a complementary mix of diverse energy sources and infrastructure is crucial if the UK is to fully harness its renewable energy potential. Battery storage, such as the project in Dyce, will contribute to the upkeep of a stable and resilient network and we have enjoyed partnering with Centrica as the project transitions into the next phase”.

 

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