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RENEWABLE ENERGY VIEW 2015
Foreword Dr Nina Skorupska Chief Executive, REA
Rebuilding consensus – creating new partnerships to deliver the renewable energy economy
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enewable energy is growing to be a major player in the energy sector here in the UK. Despite the last year’s political uncertainty and leading up
to the 2015 General Election, it remains a business opportunity for the UK. Clean energy is one of the fastest growing industries in the world, and significant work is needed to upgrade our energy infrastructure for the challenges of the 21st century. The 2015 Renewable Energy View (REview) builds on our 2014 report. Once again, we have teamed up with Innovas to produce robust employment data, broken down by technology and region. We’ve also collated official deployment figures and compared them to the Government’s 2020 projections. Each technology chapter is brought to life with case studies and articles from industry practitioners. PwC have joined us again to share their views on historic and projected investment trends – vital to giving a clue to future growth. The feedback from last year’s report told us that this report is the most complete assessment to date of the UK renewable energy market.
So what has changed since the last
report? We’ve found that the private sector has invested over £11billion in renewable electricity, heating and transport fuels, growing the industry to over 112,000 jobs and supplying the UK with 19.2% of its power in 2014, 2.8% of its heat in 2013 and 4.4% transport fuels in 2014. This is excellent progress, but there’s a
long way to go to meet the 2020 targets and tackle climate change. The necessary expansion of clean energy is both possible and affordable, as we have seen with the dramatic decreases in the cost of solar. The Government has laid a path for renewable energy deployment with the electricity market reform (EMR) seeing its first set of auctions for both Contracts for Difference (CfD) and the Capacity Market. The new Government must reconsider how much emphasis it places on technologies such as nuclear if it truly wishes to address the trilemma of energy security, affordability and sustainability. We see renewable energy, along with energy storage, as the way to deliver all three in a balanced way. We hope the new
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Government is open to debate about both the costs and the (often overlooked) benefits of renewables, including the new jobs being created. As we said last year, this not just a new generation of highly skilled engineers, but the biochemists, the legal and financial service providers and the installers and construction workers across the whole of Britain. Europe is committed to leading the world
The message remains clear: supportive,
stable policies are vital. The stronger the policies, the greater the growth, and the faster the costs come down – as we’re seeing right now with onshore wind and solar power.’
To read REview online, please visit:
www.r-e-a.net/resources/rea- publications
on a low carbon future – with this given an added impetus by the ongoing crisis in Ukraine. Whilst the UK should benefit from increased interconnectivity, we are blessed with excellent renewable resources such as wind, water, sunshine, underground hot rocks and energy from waste. Then there are sustainable bio-based fuels, which offer flexible heat, power and transport fuel when and where we need them. We can grow some of these ourselves and also buy them from trusted trade partners in the USA and Europe. Renewable energy puts us firmly in control of our energy security. The UK currently looks to be on track
for its 2020 renewable electricity ambitions and its renewable heat policies are truly pioneering. The lack of support for renewable transport, however, has seen this sector continue to stagnate. Where there has been uncertainty or drastic changes in policy, the results have been hugely damaging. The message remains clear: supportive,
stable policies are vital. The stronger the policies, the greater the growth, and the faster the costs come down – as we’re seeing right now with onshore wind and solar power. Several other technologies are progressing
too, but still need work to unlock their full potential. So whilst there continue to be challenges ahead and outstanding issues to tackle, we will face these head on with the support of our members. The opportunities outweigh the challenges by far. Investment in UK renewable energy is the clearest way to building the UK economy. This investment creates jobs, brings down costs, improves our energy security and helps us preserve a safe environment.
Dr Nina Skorupska Chief Executive, REA REview Renewable Energy View 2015 3
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