The new UK government needs to redouble efforts to achieve its 15% renewable energy target by 2020, according to Renewable Energy Association (REA). In relation to this, REA has launched a 10 point manifesto required to deliver on renewables.
REA said that the next government will be crucial for determining whether or not the UK achieves its renewable energy target.
According to REA, large parts of the energy system require replacement, presenting a timely opportunity for renewables to increasingly meet UK demand. Recent analysis shows renewables are no more expensive than replacement with conventional generation and ultimately offer the only pathway to safe and abundant energy supplies in future.
Gaynor Hartnell, chief executive of REA, said: “We’ve heard a lot about ‘change’. If we’re serious about energy security and global warming, nothing needs change more than our energy system. Meeting that target is essential for plugging the UK’s looming energy gap, reducing emissions and securing the jobs and economic opportunities of the future.”
The association said that a strong political leadership is required on renewable heat, power, transport and greening the gas grid, which includes openness about the huge expenditure needed on the energy sector over the next decade regardless of technology pathway. Policy should be led by DECC, regulated by Ofgem and with clear co-ordination across all departments.
REA called for a stable framework to ensure investment in sustainable biofuels – both current and future technologies, and create market value for biofuels with higher GHG savings.
It also called for effective incentives for renewable electricity across the range of technologies and sizes. A strong start is essential to bring down long-term costs of the scheme and to deliver the massive increase in renewable heat needed. REA said.
In addition, an effective incentive for greening the gas grid must also be introduced and the longstanding network access issues for renewables – both on and offshore – must be resolved as quickly as possible, and technological innovation on networks incentivized.
To support large private investment needs, the bank must be sufficiently capitalized to around GBP40bn and be able to take innovative actions such as issuing green bonds, providing cornerstone funding and partnering with private investors to help reduce the costs of risk. The Green Bank must be included in the Queen’s speech, REA added.