A new report by the Government’s advisory body the Committee on Climate Change highlights the benefits that wind and marine energy bring to the economy by growing new industries, and to consumers by providing insurance against volatile international fossil fuel prices.
The study ‘Energy Prices and Bills 2017 – impacts of meeting carbon budgets’ states that having renewables on the system drives down bills by providing more competition among a wide range of energy sources.
It notes that offshore wind costs have fallen dramatically and will continue to do so, and that onshore wind offers a cost-effective way to keep bills down, so it is one of the technologies which can provide new generation in the 2020s.
Emma Pinchbeck, RenewableUK’s Executive Director, said: “This report highlights the fact that the UK’s low-carbon sector is growing faster than the rest of the economy, already employing hundreds of thousands of people and contributing 2-3% of GDP, which is comparable in size to energy-intensive manufacturing.
“With Government looking to invest in industries of the future through the Industrial Strategy, the CCC’s findings clearly demonstrate that wind and marine energy should be priorities.”