18 Jul 2011 11:07:05
Green Alliance: EMR de-risks energy investments
The Electricity Market Reform (EMR) marks a "significant step forward" in the deployment of renewables in the UK, according to think-tank Green Alliance.
Matthew Spencer, director of Green Alliance, said "clearly" more work needs to be done in attracting renewables investors to the UK, however, the contracts offered under the EMR "significantly" de-risk investment within the sector.
The EMR White Paper was unveiled earlier this month by the Department of Energy and Climate Change, alongside the renewables roadmap, identifying the eight key technologies the UK will use to decarbonise its energy supply.
Mr Spencer cautioned, however, that although the 15 percent renewable energy target is still viable, competition from other countries is going to make scaling up the technologies increasingly difficult.
Germany's growing interest in offshore wind, one of the key technologies outlined in the renewable energy roadmap, was cited as a particular example.
"I've no doubt that the UK can get 15 percent of its energy from renewables ... [but] there is the question of whether we can get all of the pieces in place in time," he added.