Renewables brings a £2.5b economy boost to the UK

Renewable energy in the UK is bringing almost £2.5billion worth of investment into the country.

Figures from the department of energy and climate change released over the Xmas period by Chris Huhne revealed more evidence of the economic benefits of renewable energy as he reaffirmed the coalition’s commitment to meeting EU renewable energy targets.

The figures came on the same day that the UK published an update on progress to source 15 per centof all energy from renewable sources by 2020.
The latest research from DECC shows that so far this financial year, companies have announced plans for almost £2.5billion worth of investment in renewable energy projects in the UK, with the potential to create almost 12,000 jobs across the country.

A separate report to the European Commission on renewable energy progress in the UK showed that the country achieved a 27 per cent increase in renewable energy consumption from 42.6TWh in 2008 to 54TWh in 2010,representing 3.3 per cent of total energy consumed and that there was a threefold increase in the use of biofuels in transport from 1 per cent of total road transport fuel supply in 2007/8 to 3.33 per cent in 2010.

Commenting on the figures Chris Huhne, Energy Secretary, said: “Renewable energy is not just helping us increase our energy security and reduce our emissions. It is supporting jobs and growth across the country, and giving traditional industrial heartlands the opportunity to thrive again.

He added that:“Our renewable target is less demanding than other EU member states, but the effect is bringing real jobs and investment. “I do not want the UK to be left behind by turning our back on the green economy. The agreement to negotiate a global deal secured at Durban has reinforced major nations’ commitment to cutting carbon. We cannot afford to stand alone while the world wises up.”