The study indicates that such an expansion would incur costs of up to $700 billion and would not yield significant results until at least the next decade.

The data, prepared by the University of Strathclyde’s Fraser of Allander Institute, estimates that the sector contributed over £10 billion to the Scottish economy, supporting 42,920 full-time roles.

Through its subsidiaries Shell Wind Energy and Savion Equity, Shell is selling a 50% stake in the 180 MW Madison Fields solar PV park in Ohio and a 60% stake in the 182 MW Brazos wind farm in Texas.

. The newly acquired funds will be instrumental in advancing the research, production, and commercial scale-up of LIND's battery technology.

The expansion includes an 11MW site in Coryton Energy Park, Essex, and a larger 50MW site on Broomloan Road in Ibrox, Glasgow. Together, these sites will contribute a combined 61MW of storage capacity for renewable energy.

EY publishes the RECAI biannually, and the latest edition cites concerns over grid connection delays as a key factor influencing the attractiveness of the UK market for renewable energy projects.

Both nations have committed to strengthening collaboration in various key areas to accelerate the transition to renewable energy and promote sustainable practices.

Germany, leading the charge, is expected to achieve a record high in total solar PV capacity, while other emerging markets like Poland and the Netherlands are also experiencing considerable growth, predominantly due to the increasing popularity of rooftop installations.

This outcome has drawn criticism from opposition politicians and environmental advocates.

This achievement marks Shell's first wellhead platform in the country powered by a combination of solar and wind energy sources, underlining the company's commitment to sustainable practices.