Seven out of 10 retail investors surveyed by Thrive Renewables and Triodos Bank were in favour of increasing renewable energy investment in the UK, with more than two-thirds expressing support for solar PV.
The pair commissioned market research group Opinium to conduct a survey of 1,000 retail investors and 2,000 members of the general public.
While political rhetoric from new Prime Minister Liz Truss has seemingly been in favour of an extreme interpretation of an ‘all-of-the-above’ energy strategy, with stated antipathy towards large-scale solar, a clear majority of investors surveyed felt renewables continue to be worth backing.
Of the 1,000, 65% supported solar PV investments and among those that had been investing for more than 10 years, 78%. Similarly, onshore wind drew support levels of 62% and 72% respectively.
Overall, support from the retail investors for renewable energy investment was at 69%.
Many surveyed said their thinking around investments was motivated by big picture dynamics, such as 57% that wanted to be able to use their investments to have a positive impact on the current energy crisis, which more than eight out of 10 investors said they are concerned about.
Of the general population surveyed, 66% wanted to see increased renewable energy investment, even higher than the 57% of retail investors wanting to increase their portfolios’ holdings in renewable energy.
Investors also wanted to be able to contribute to the country achieving net zero, with 56% wanting to be able to use their money to support that goal.
Thrive was launched by the UK branch of Dutch sustainable banking group Triodos but became a separate entity in 2016. It has a portfolio of wind, battery storage, hydroelectric and geothermal assets in operation, construction or development. It has also invested in projects using other technologies including solar PV and ground source heat.
Earlier this month it reported half-year profits of £3.4 million with a turnover of £8.4 million. Its generation was up 38% on the same period of last year, some of which was attributed to a pick up in wind speeds around the country. Together with Triodos Bank – with which it says it “maintains a positive banking and commercial arrangement with,” Thrive Renewables is crowdfunding to raise £7 million towards clean energy projects around the UK. The pair have so far reached £5 million of that target.
