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Officials approve massive new solar farm to power tens of thousands of homes — here's what's happening

Financial markets have taken notice.

Financial markets have taken notice.

Photo Credit: Depositphotos.com

A new 140-megawatt solar installation called Oaklands Farm has received official approval from U.K. authorities, boosting England's clean energy capacity in South Derbyshire, Reuters reported.

BayWa, a company that specializes in renewable power solutions, will construct this solar park with a special additional feature: 37.5 megawatts of battery storage. 

When combined, solar panels and batteries address solar's intermittency issue by storing excess electricity for use on cloudy days or at night.

The facility will supply electricity to approximately 35,000 local homes. The £80 million ($107 million) project is scheduled to break ground in 2026, creating a slew of jobs during construction and for ongoing site management afterward.

Britain's growing support for clean power projects doesn't just provide sustainable electricity. As previously stated, new energy facilities like this one bring both temporary and permanent job opportunities to rural areas. Property owners near clean energy developments also experience stable housing values as renewable infrastructure becomes a valuable asset to communities.

Financial markets have taken notice of clean energy's rising importance. Many renewable-focused businesses outperform dirty fuel companies over time in investment portfolios. 

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Despite occasional market fluctuations, the financial case for clean energy makes long-term sense, as sun and wind provide free fuel once the equipment is installed.

The addition of battery storage makes BayWa's project valuable to the local grid. Unlike standalone solar farms, battery-equipped facilities provide power after sunset, which balances supply and demand throughout the day.

Local communities benefit from these developments through better air quality and less reliance on imported energy. Rural areas that host renewable projects often receive benefit funds that support local initiatives, from playground improvements to community center renovations.

For homeowners interested in clean energy but unable to install their own solar panels, these larger projects are an indirect way to support renewable growth. The electricity from Oaklands Farm will feed into the same grid that powers nearby homes, gradually making everyone's power supply cleaner.

"The project will generate enough renewable power to supply around 35,000 homes," BayWa stated in its release about the development.

If you were to install home solar panels, which of these factors would be your primary motivation?

Energy independence ⚡

Lower power bills 💰

Helping the planet 🌎

No chance I ever go solar 🚫

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