The REA’s authoritative annual REview report highlights renewable energy’s role in UK’s future economic growth 

• The REA’s authoritative annual assessment of the renewable energy and clean technology sector, REview, is published today. 
• Renewables now provide nearly half (47%) of the UK’s electricity, a dramatic rise from just 15% a decade ago. 
• An acceleration of renewables and decarbonisation is needed in the heat and transport sectors especially however, where renewables account for 9.4% and 6% of the UK’s demand. 
• The UK’s renewable energy sector surged to a market value of £24.38 billion in 2022/23, with projected growth to over £41 billion by 2035. 
• Employment in the sector climbed, reaching nearly 143,000 jobs, with solar and biofuels leading in job creation. 
• Employment growth is strongest in regions like Yorkshire and the Humber, where biomass leads, and the North East, driven by large-scale wind projects. Investment in grid infrastructure, local incentives, and supportive policy will be crucial to sustaining this regional expansion and achieving net zero goals. 

The Association for Renewable Energy and Clean Technology (REA) has today published its latest annual report, REview 24, which reveals that renewable energy now provides nearly half of the UK’s electricity (47%), up from just 15% a decade ago. This significant achievement underscores the sector’s pivotal role in meeting the UK’s net zero goals, ensuring energy security and highlights its continued resilience and growth amidst evolving energy demands and challenges.  An acceleration of renewables and decarbonisation is needed in the heat and transport sectors however, where renewables account for only 9.4% and 6% of demand, respectively.  Overall, 15.5% of the UK’s energy (power, heat and transport) comes from renewable sources.  

According to REview 24, the UK’s renewable energy sector reached a market value of £24.38 billion in the 2022/23 fiscal year, demonstrating strong progress during difficult wider economic headwinds. With projections estimating a market expansion to over £41 billion by 2035, the renewables sector is expected to play a major role in boosting the UK economy while securing a sustainable and independent energy future. Key renewable sources such as wind, solar, and biofuels continue to outperform expectations, attracting robust investment and driving innovation across the sector. 

The sector also registered impressive employment growth, reaching nearly 143,000 jobs. Employment surged particularly in solar and biofuels, with regions such as Yorkshire and the Humber leading in biomass-based roles, and the North East benefitting from large-scale offshore wind projects, including Dogger Bank, the world’s largest offshore wind farm. As the REA report reveals, regional advancements in renewable projects are delivering local economic benefits and fostering green job creation, strengthening communities and diversifying employment opportunities across the UK. 

However, the REA highlights that continued government action will be essential to unlock the sector’s full potential. Meeting the UK’s ambitious net zero targets will depend on strategic investments in grid infrastructure, stable local incentives, and coordinated policies across government departments. With the right measures, the UK can sustain its momentum, positioning itself as a global leader in clean energy while enhancing energy security and affordability for communities nationwide. 

With a new government’s commitment to green energy and the public’s strong support for a cleaner future, the UK could be poised for another decade of growth in renewables. The REview 24 report calls for swift action to improve grid capacity, streamline planning processes, and enhance public engagement to support the transition. As the nation accelerates toward a net-zero economy, renewable energy remains at the forefront, setting the foundation for sustainable economic growth, job creation, and environmental resilience. 

Michael Shanks MP, Energy Minister, Department for Energy Security and Net Zero, said:  

“These findings confirm that the government’s clean power mission is not only the right long-term choice for our country, but is essential to bolster our energy independence, protect people’s bills and help tackle climate change. 

“Working hand in hand with our renewables industry, we’ve already secured a record-breaking 131 renewable projects in just four months. We’ve also set up Great British Energy, to help us go further and faster on the energy transition to win jobs and drive investment into our communities.” 

Trevor Hutchings, Chief Executive of the REA (Association for Renewable Energy and Clean Technology), said:  

“Released today on Finance Day at COP29, REview 24 is our flagship annual report and a leading assessment of the UK’s renewable energy and clean technology sector.  The report provides insights on the impressive progress by the sector which is worth over £24bn to the UK economy, employing around 140,000 jobs. 

As the Prime Minister has reiterated in the last couple of days, renewable energy and clean technology is driving economic growth and creating jobs on a global scale. In the UK, it is also providing nearly half of the country’s electricity, but to reach our net-zero goals, we need to accelerate action. 

This report highlights the critical role of strategic investment in infrastructure and the need for cohesive policy across government departments in unlocking the sector’s full potential—and in winning the global race for green investment, economic growth, and jobs. 

With the right approach, the UK can lead the world in clean energy, ensuring a sustainable, secure, and affordable energy future for all. Working with our 500 member organisations, the REA is committed to accelerating the journey to net zero.” 

Will Gardiner, CEO of Drax, sponsor of REview 24, said:  

“This report highlights the remarkable progress the UK has made in transitioning to a cleaner, secure and more sustainable energy system. Drax’s long-term, reliable renewable electricity projects in Yorkshire and Scotland could create thousands of high skilled jobs which will power the UK’s clean energy revolution and supercharge economic growth.  

As the sector continues to grow, we must prioritise rapid decision making, the right policy support and continued investment in order to achieve the country’s 2030 clean energy ambitions.”