investment in renewables
“There is no doubt that companies
faced with the credit crunch will have
to think twice about how and where
they make their investments.
We are trying to ensure that there
remains a market and the incentives
to adopt renewables.”
Investing during a recession
The renewables strategy launched by BERR
in the Summer of 2008 must seem a lifetime
away. Achieving the 20% carbon reduction by
2020 had to be underpinned by a surge in re-
newable energy, and that requires continuous
investment. Recession has impacted upon in-
vestment levels right across the economy, and
energy projects have been no exception.
The major renewable technology vendors
have reported a slowing down or reduction of
sales. How far does Joan Ruddock see the eco-
nomic downturn threatening the carbon reduc-
tion targets? “There is no doubt that compa-
nies faced with the credit crunch will have to
think twice about how and where they make Is that a view shared by the DECC team to-
their investments. We are trying to ensure that day? “It has to depend on the willingness of
there remains a market and the incentives to people to join the sector, but this is important
adopt renewables. to the success of the carbon reduction strat-
“We cannot require people make those in- egy and we have created a large number of
vestments but we can create the environment incentives to ensure that it can happen. This
to encourage them. The case has to be made country was at the forefront of the North Sea
that, as we come out of recession, people will gas industry. As the dynamics of that sector
see the advantages of being prepared for new change, I am confident that we will have the
technologies and a low carbon future. human resources to create a strong renewa-
“Rather than just return to the practices of bles sector.”
the past, where fossil fuels predominated, we
need to make them prepared to go forward with
investments that will achieve the reduction in
Succession of announcements
carbon emissions. We need to be preparing DECC is still a Department finding its feet.
for the future and not for the past.” For all that, it has been generating a succes-
sion of policy announcements and initiatives.
Resourcing climate change
It set out a low carbon industry strategy a week
before the latest draft CRC Order was released.
When The Informed Executive spoke with Phil Wil- And a week before that it tried to bring some
lis MP, the Chairman of the DIUS Select Com- sense of perspective to the concepts of car-
mittee ahead of its renewables focus in Sep- bon neutrality and carbon offsetting. If the rules Above: Construction under way at
tember 2008. He was concerned that on carbon offsetting prevent even one ‘spe- the Burbo Bank Offshore Wind
achievement of the 20% carbon reduction tar- cialist’ make fatuous and unfounded claims Farm, which comprises 25
get could be affected by shortages in suitably about its offset programme, DECC can chalk turbines and is situated on the
trained staff and management. up an instant success. § Burbo Flats in Liverpool Bay
The major vendors of renewable technology have reported a slowing down or reduction of sales.
Questions must inevitably be raised whether the 2020 carbon reduction targets are achievable.
The Informed Executive
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