Register for weekly alerts

Mixed political messages risk undermining renewable investment says REA

Date: Thu, 31 Oct 2013 | Author: Paul Sanderson

Image for Mixed political messages risk undermining renewable investment says REA

The Renewable Energy Association (REA) has warned that recent political messaging activity risks a severe impact on the success of renewable energy.

In publishing its twice-yearly members’ survey, its members show they are more confident of boosting turnover, new business and employment over the next six to 12 months than they were in the first quarter of this year when the last survey was taken.

With the survey conducted before the Prime Minister announced that his Government intends to “roll-back green energy regulation”, REA members were given clarity by the Government’s Electricity Market Reform programme and had relative stability in key support schemes.

But REA chief executive Nina Skorupska said that the Prime Minister’s announcement has increased the perceived risk for investors.

She said: “The renewables industry is poised to significantly grow its contribution to employment and economic recovery. The growing confidence in the power sector and the Electricity Market Reform programme is good news as the UK urgently needs new wind, solar and biomass to keep capacity margins healthy. New nuclear, CCS and shale gas will not be on-stream until the 2020s at the earliest.

“However, these green shoots are still fragile, and the UK’s chances of meeting the binding 2020 targets appear remote. Although Government has confirmed that funding for renewables is not at risk in the ‘green taxes’ review, consistent messaging on Number 10’s commitment to the green agenda is absolutely vital.

“The Government currently opposes a 2030 EU renewables target and is proposing to repeal the Planning & Energy Act. Reversing these stated positions would inject a huge boost into the sector and unlock much needed new jobs and investments.”

 

 

REA confidence survey index 

 

View full REA Members' survey here

Category: Energy
Recoup Conference 2017Recycling UKNovelis Every Can CountsHanicke Robins Sanderson