REview24

• The REA publishes its authoritative annual assessment of the UK’s renewable energy and clean technology sector. 
• 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, 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. 

The Association for Renewable Energy and Clean Technology (REA) has 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.

The sector also registered impressive employment growth, reaching nearly 143,000 jobs. 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.

REA’s annual report, REview24, can be read and downloaded here (high resolution) or here (low resolution).

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