29 Sep 2010 12:09:14
Scotland needs 'radical rethink' on renewables funding
A top UK economist has claimed that "radical thinking" is needed to improve funding for low carbon power generation in Scotland.
First minister Alex Salmond announced earlier this month that Scotland was raising its renewable energy target to 80 percent by the year 2020. This is an increase of 30 percent on the previous figures and is likely to require significant levels of investment.
Andrew McLaughlin, chief economist at the Royal Bank of Scotland, was speaking ahead of a two-day conference in the Scottish capital when he said that it is essential the public and private sectors work together to boost renewables, the Edinburgh Evening News reports.
"To achieve [Scotland's] potential, we need to overcome challenges such as the variable nature of wind power generation through a more efficient and integrated European grid to distribute power more effectively," he was quoted as saying.
Mr McLaughlin echoed Mr Salmond's sentiments that Scotland has some of the best potential of all the countries in Europe for renewable power generation.