An interesting (?) concept from renewables promoters here, partly to boost ‘innovative’ (generally expensive) technologies. We’re supposed to believe that bigger subsidies, or ‘fiscal incentives’, will lead to lower bills.
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The energy sector is ramping up pressure on the government to bolster investment in green projects, with Renewable UK the latest to raise concerns the country could be overtaken by rivals such as the US and EU, reports City AM.
The industry body, which supports wind and tidal energy, has called on Downing Street to bring in fiscal incentives such as new capital allowances for renewable technology.
It also favours sustained supply chain investment in the UK to expand green jobs, and speeding up the planning process – with offshore wind developers waiting an average of five years for planning approval under current restrictions, and some projects taking up to a decade to secure a grid connection.
Onshore wind also remains effectively banned under current restrictions, even though projects could in theory take as little as a year to complete from development to generating, according to Renewable UK.
Alongside incentives, the group has urged the government to set sustainable prices for renewable electricity in in this year’s upcoming auction for clean power, which takes into account the effect of inflation on the rising cost of labour and raw materials.
Renewable UK argues these measures are essential for ensuring the UK can boost offshore wind generation in line with energy security targets, while commercialising innovative technologies like floating wind, tidal stream and green hydrogen.
Full report here.
via Tallbloke’s Talkshop
February 20, 2023 at 10:53AM