The UK renewables industry has called for greater progress in the 2008 Budget from the Government asking for "clear evidence that the chasm between climate rhetoric and practical action will be closed.”
The UK government currently spends around £1 billion per annum on its climate change mitigation programme while the Stern report has recommended spending 1% of GDP or around £13 billion per annum. Last year the International Energy Agency reinforced the Intergovernmental Panel on Climate Change estimate that avoiding ‘dangerous’ climate change would cost around 5.5% of GDP, equating to some £70 billion per annum in the UK.Gaynor Hartnell, REA Deputy Director, said, “We need firm and decisive action from government. The resource in shortest supply is time. These decisions need to be made now.
The UK government currently spends around £1 billion per annum on its climate change mitigation programme while the Stern report has recommended spending 1% of GDP or around £13 billion per annum.
”“We are bumping along the bottom of the EU renewables league table. We should be seeking, as a minimum, to match German levels of expenditure on climate change mitigation in the region of £2 billion per annum.”Important measures REA would like to see announced are; A Renewable Energy Tariff (Feed in Tariff) for heat and electricity generated from renewable sources. This could work alongside the current Renewables Obligation. Enabling powers could be introduced in the current Energy Bill. Roll out of smart metering to all homes. A refit programme for existing buildings of 100,000 homes rising to 1 million per annum. This could be achieved by a £1billion recycling loan fund to allow home owners to invest in onsite generation through a second charge on their mortgage without incurring upfront capital costs. This could receive significant funding from the European Investment Bank. The level of the duty rebate for biofuels set for more than the current 3 years to enable investors to make informed decisions.
