EAC report highlights declining renewables investment and policy change

• REA comments on Government response to Environmental Audit Committee green energy investment report

The Renewable Energy Association has commented on the Government’s response to the Environmental Audit Committee’s (EAC) report Green Finance: Mobilising Investment in Clean Energy and Sustainable Development launched in May. The Government’s comments and response from EAC Chair Mary Creagh MP were made public this morning.

Commenting on the Government response, James Court, Head of Policy and External Affairs at the Renewable Energy Association said:

“The conversation around transitioning to a subsidy-free environment for many renewable technologies was inevitable and shows how far the sector has come, but the way it has been handled by Government has resulted in precipitous changes that have undermined our achievements in solar, onshore wind, renewable fuels, and beyond.

“The industry is now keen to engage with Government on how the cheapest forms of new power generation – wind and solar – could be deployed in this new policy landscape. Supporting small scale renewable power after the looming closure of the feed-in tariff, and discussing the decarbonisation of heat once the programme to support new renewable heat deployment closes in 2021, are also core industry priorities.”

“The REA and members look forward to collaborating with Government so as to implement the thirty recommendations of the Green Finance Taskforce, specifically those relating to access to capital for renewable energy projects.“

—ENDS—

Daniel Brown
External Affairs Officer
+44 (0)20 7981 0857
[email protected]

Notes to editors

• The EAC Chair’s comments and Government’s response to the Committee’s Green Finance report can be read here: https://www.parliament.uk/business/committees/committees-a-z/commons-select/environmental-audit-committee/news-parliament-2017/green-finance-government-response-publication-17-19/

About the Renewable Energy Association (REA)

The Renewable Energy Association represents renewable energy producers and promotes the use of all forms of renewable energy in the UK across power, heat, transport and recycling. It is the largest renewable energy and clean technology (including energy storage and electric vehicles) trade association in the UK, with around 550 members, ranging from major multinationals to sole traders.

For more information, visit: www.r-e-a.net