Economic‘Greening’
DeutscheBank,said,“Investmentswillsoonbepouringback Concurring with the BWEA sentiments, a study from the
intotheglobaleconomy.Thequestioniswhethertheygointo InstituteforPublicPolicyResearch(IPPR)warnedthatwithout
theold,extractive,short-termeconomyofyesterday,oranew rapidexpansionofoffshorewindcapacity,theUKwillstruggle
greeneconomythatwilldealwithmultiplechallengeswhile toachieveits15%2020EUrenewableenergytarget,adding
generatingmultipleeconomicopportunitiesforthepoorand thatwithoutgreatergovernmentsupporttheopportunityto
well-offalike.”Atfacevalue,anewgreendealpresentsawin- createupto70,000long-termjobs,aswellasanyassociated
winsituation;protecttheclimateandeconomyandreducethe exportpotential,willbealsolost.”Thegovernment’spledgeto
povertygapbetweenrichandpoornations.Thechallengeisin achieveambitioustargetsneedstobefollowedthroughwith
managingthetransitiontothefuturegreeneconomy. concrete policies to create greater certainty for industry,
Emission targets will largely dictate the scope and maximise the potential for the UK economy and realise
momentum of resulting green market policies, and with environmentalgoals.
increasingconsensusamongdevelopedeconomiesfora80%
emission cut by 2050 (relative to 1990) the key policy Revolution & Evolution
differentialislikelytobetheinterim(i.e.2020)emissioncuts TheUKisnotaloneinitsrenewablechallenge.Pledginga
adopted.Forexample,theEUhasagreeda20%interimcut, greenrevolution(asthegovernmentdidin2008)istheeasy
butwouldincreasethisto30%ifotherdevelopedeconomies part.Deliveringonthispledgeisappreciablymoredifficult.
followedand,attherecentUNclimatetalksinBonn,haseven Thisraisesaninterestingquestion;istheprovisionofasecure
intimateditwouldaccepta40%cut.Bycomparison,theUS green economy best achieved through policy revolution or
willonlycommittoreducingits2020emissionsto1990levels, evolution? In the face of a recession that has been likened,
whichisequivalenttoa16%reduction. wrongly, by some to the Great
...agreeneconomyhas
Depression of the 1930s, it may be
Emissions & Renewables
These emission targets can only be
beenevolvingsincethe1970s
politicallyconvenienttoadoptan‘out
with the old, in with the new’
achieved through targeted green
whenthefirstinvestmentsin
revolutionary approach to a new
policies, with investment in renewable renewableenergyweremade economicmodel.Butagreeneconomy
energy for generation, heat and hasbeenevolvingsincethe1970swhen
transport to displace fossil fuel energy sources forming the thefirstinvestmentsinrenewableenergyweremadeand,ifoil
majorpartofafuturegreeneconomy.Thevalueofrenewable prices had not collapsed in the 1980s and 1990s, it is
energyisitsapplicabilitytobothdevelopedanddeveloping conceivablethatgreaterprogresstowardarenewablefuture
economies, but the downside is this global applicability of wouldhavealreadybeenmade.
renewablesourceshascreatedafiercelycompetitivemarketat Oilpricesandthecompetitivenessofrenewableenergyare
a time of investment constraints caused by the global essentiallymarketrelatedissues,whereastheidentificationby
economicdownturn. governments of renewable energy as a primary emission
Theonlywaytomeettheserenewableobjectivesisthrough reduction tool is an interventionist one. As such, when
governmentintervention.Initsbudgetsubmission,theUK’s governments talk of a ‘renewable revolution’ they are
British Wind Energy Association called for targeted effectively endorsing intervention over a free market
governmentinterventiontoensurethatBritaincanmeetits evolutionaryapproach.
ambitious renewable energy targets, with Chief Executive Government intervention is a necessity if a new green
MariaMcCafferycommenting:“Largescalewinddeployment economyistoevolve.Yetgovernmentinterventionshouldonly
isvitaltoreachingtheUK’sgoalofgeneratingupto40%ofour beusedasacatalysttoprovidethenecessarygreenmarket
electricity from renewables by 2020. The current economic momentum,andthesuccessfulgreenmarketpolicieswillbe
climatehascausedanumberofdeveloperstoputprojectson thosethatstriketheoptimumbalancebetweenintervention
hold, threatening the UK’s targets, and leaving the country andfreemarkets.
•
exposedtovolatilefossilfuelprices.Buildingacleanenergy
sectorintheUKisanimportantpartofoureconomicrecovery,
Jeremy Wilcoxisanindependentbusinessadvisor
and we need to maximise the opportunities to develop
andcommentatorontheglobalenergyand
sustainableenergyprojects,whichwouldotherwisebedelayed
environmentalmarkets.
bytherecession.”
www.energy-partnership.co.uk
worldPower2009 99
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164