A new report has suggested that advances in storage technology and grid management, coupled with the falling costs of renewable energy, could see the UK supplied reliably with all the clean and affordable energy it requires.
The Friends of the Earth paper noted that oil and gas is now in decline, with the shift to renewables gathering pace around the world. And author of the report and energy campaigner, Alasdair Cameron, has said that the UK should be able to provide at least 75 per cent of its electricity from renewable sources come the year 2030.
This, he continued, would help to maintain reliability, decarbonise the power supply and also drive down costs.
The report went on to note that onshore wind and solar are fast becoming the cheapest sources of energy these days and costs for offshore wind are also dropping quickly, changes that are too quick for investors to ignore.
“It’s increasingly recognised that renewables like wind and solar are among the cheapest options for generating power in the UK, and it is also clear that they can be the foundation of a stable and reliable energy system,” Mr Cameron went on to say.
This follows EY’s Renewable Energy Country Attractiveness Index revealing that the UK is now in the top ten list of places around the world that are the best for investment in renewable energy. However, warnings were issued that the potential impact of Brexit on the sector and uncertainty around future energy policy is still leaving investors cautious about diverting their money to renewable projects in the UK.
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