Government reveals renewables bring £2.5 billion boost to economy

Chris Huhne has revealed more evidence of the economic benefits of renewable energy as he reaffirmed the coalition’s commitment to meeting EU renewable energy targets at the end of December. This came as the UK published an update on progress to source 15% of all energy from renewable sources by 2020.

Latest research from the UK’s Department of Energy and Climate Change (DECC) shows that so far this financial year (running from 1 April 2011 to 31 March 2012), companies have announced plans for almost £2.5billion worth of investment in renewable energy projects in the UK, with the potential to create almost 12,000 jobs across the country (see inset).

A separate report to the European Commission on renewable energy progress showed that the UK:

• Achieved a 27% increase in renewable energy consumption from 42.6TWh in 2008 to 54TWh in 2010 - representing 3.3% of total energy consumed;
• Increased wind generation by 46% from 7TWh in 2008 to 10.2TWh in 2010, and in 2010 achieved 5GW of offshore and onshore wind capacity; and
• Saw a threefold increase in the use of biofuels in transport from 1% of total road transport fuel supply in 2007/8 to 3.33% in 2010.

“Renewable energy is not just helping us increase our energy security and reduce our emissions. It is supporting jobs and growth across the country, and giving traditional industrial heartlands the opportunity to thrive again,” commented Chris Huhne. “Our renewable target is less demanding than other EU member states, but the effect is bringing real jobs and investment.”

Huhne said he did not want the UK “to be left behind by turning [its] back on the green economy” and said the region “cannot afford to stand alone while the world wises up”.

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DECC