New research from the University of Oxford has unveiled that wind and solar technologies could easily power all of the UK by 2050. The researchers calculated that the two renewable technologies could power the nation even after making a conservative estimate that accounted for the amount of land and sea available, energy storage needs, economics and a high future demand for energy. Citing predominant narratives that renewables have been underestimated for being too expensive and impractical, the Smith School of Enterprise and the Environment agrees that a renewable powered Britain is largely possible now with the falling costs of wind and solar, stating that the technologies could power the entirety of the energy system – not just electricity.

This comes as a recent global survey has found 68% of people favour solar energy as the most popular energy source, according to research conducted by Gocalities in collaboration with advocacy groups Global Citizen and The Fossil Fuel Non-Proliferation Treaty Initiative. The EU’s latest Eurobarometer from May-June found 85% of Europeans support “investing massively” in renewable energies, such as wind and solar power, and they expect the businesses they support to do the same, according to research by leading sustainability consultants, SaveMoneyCutCarbon .

SaveMoneyCutCarbon has unveiled a report finding that 22% of Brits (11.7 million) will only support businesses that put sustainability at the forefront of their operation, proving Brits are actively trying to be more cautious around the businesses they choose to support. Further to this, the survey found 38% of Brits (20 million) have also stated that they are more likely to trust a business if they know it is taking action against climate change, bringing forth an encouragement for businesses to choose more sustainable measures going forward.

Discussing how investment into clean and renewable energies provides new ways to generate energy SaveMoneyCutCarbon (SMCC) – the UK’s leading sustainability corporate consultants – offers their insight on how businesses can utilise clean energy, save money, reduce costs and increase employee retention through sustainable practice.

Offering quick and actionable tips that can be scaled at speed, Mandip Bhamra, Head of Renewable Energy from SaveMoneyCutCarbon advises business to invest in renewable energy:

“Businesses can reap tons of benefits from renewable energy sources such as solar PV systems. The main advantage is reduced electricity costs, which is pivotal in today’s cost of living crisis. Although it is a big upfront investment, it is guaranteed ROI and you’ll earn your money back in no time.

“Turning away from fossil fuels will also lower your carbon footprint and enhance your business’s reputation with green credentials. More and more consumers are choosing businesses that invest in green practices and businesses must keep up with this change to stay relevant.”

Bhamra further commented on the cost of solar panels:

“Generating your electricity will put less reliance on the grid and save you money. A technical survey will determine if the property will be suitable for a solar installation as the location, angle, and direction of the roof space will determine how much electricity is generated. It is important to consider how much electricity is being used during daylight hours as solar-generated electricity not used by the property will go back to the grid, which will increase the payback period. A battery installation could then be considered to self-consume as much free electricity as possible. On analysis of the property, other demand reduction measures could be LED lighting and smart controls. To summarise, the price of a solar installation with a battery is likely to cost between £6-14,000 pounds (with batteries), self-consuming the free electricity is key to the best ROIs.”