UK Renewable Energy Market Has Crashed Due to Lack of Government Investment
- Aug 1, 2018 1:08 pm GMT
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Government ministers are warning that the UK is in danger of missing carbon reduction targets because of a lack of investment in wind and solar energy. Analysis by Bloomberg revealed that investment in clean energy fell by 56% in 2017. This is extremely worrying, and ministers are worried that the problem will worsen once Great Britain leaves the EU.
Figures are “Damning,” says Green Party
Opposition party members, including Caroline Lucas, co-leader of the Green Party, have called the figures “damning”.
In a statement to the media, Ms. Lucas said: “Under the Prime Minister's watch, investment in clean technology has slumped, because of government policy changes. Make no mistake, these new statistics are damning.”
This is the second successive year that government subsidies for renewable energy have fallen. David Cameron’s government banned further subsidies for offshore wind farms and solar power schemes. Theresa May seems inclined to follow the same tack. Yet investors are claiming they need a long-term renewable energy policy in place if they are to continue to invest in the sector.
Other Countries Cut Back Too
The UK is not alone in cutting back on renewables spending, Other countries, including Japan, Norway, India, and Germany have also reduced their renewables budget, although not as steeply as the UK. Meanwhile, in the US, spending on clean technologies rose by 1%, despite the Trump administration favoring nuclear and coal power. China is also increasing its spending on renewable energy programs. As the cost of generating solar energy fell in 2017, China massively increased the number of solar installations.
Renewable Energy in the Home
Whilst the UK government clearly some work to do to meet its renewable energy targets, consumers can do their bit to persuade the politicians that renewable energy is the way forward. Government feed-in tariffs are no longer as generous as they once were, but homeowners can still benefit from installing solar panels.
When the sun is shining, solar is a great way of generating free electricity. You can use as much energy as you want during the ‘free periods’, as it costs you nothing. In today’s technology-obsessed homes, ‘free’ electricity is a smart way to keep overall energy expenditure as low as possible. And it’s not the only way to save money. This site shows great energy saving tips for your home as well as energy comparison for UK customers.
Homes on a water meter can save money by fixing leaking taps as quickly as possible and installing a water butt to collect rainwater to use in the garden. It is also more energy efficient to use a dishwasher to clean the pots rather than do it by hand.
Don’t forget about wind power. Homes in exposed areas are often buffeted by strong winds, so it makes sense to install a wind turbine if you can get planning permission. There will be an up-front cost, but the money you save will wipe out your expenditure within a few years.