Posted: 25 April, 2012. Written by REA News
Renewable Energy Association
25th April 2012
REA  finds outstanding renewable energy growth bucks recession
News that the UK is officially back in recession has come as the Clean Energy Ministerial  gets underway in London.
The REA’s major new report 'Renewable Energy: Made in Britain' , launched yesterday with Energy Minister Greg Barker, shows that the UK renewables sector grew an average of 11% from 2009-2010, with even greater growth achieved in some technologies. This compares with a national average growth rate of just 1.4% over the same period. Renewable energy is the fastest growing energy sector in the world, outstripping investment in conventional energy.
REA Chief Executive Gaynor Hartnell said:
“The Treasury has been marginalising renewable energy, but evidence in the UK and from around the world shows renewable energy should be at the heart of Government’s growth strategy."
“We recommend the Chancellor attends the Clean Energy Ministerial. The potential for renewable energy to stimulate much needed growth and employment is understood by the major economies attending this important event today. The UK should be taking this major economic opportunity every bit as seriously.”
Data from the US Energy Information Administration shows the renewable energy sector grew 27% between 2009 and 2011 in the US . President Obama has said “the country that leads the clean energy economy is likely to lead the global economy” . India enjoyed the highest global growth rates in renewables at 52% in 2011 . BP said earlier this year they expect growth in renewables over 8% per annum to 2030, much higher than growth in fossil fuels .
‘Renewable Energy: Made in Britain’ shows the UK renewable energy industry employs around 110,000 people and turned over around £12.5 billion in 2010/11. Public investment in UK renewables in 2010 was around £1.4 billion, showing the sector is highly effective at leveraging private investment. The industry needs to grow 16% per annum and to sustain around 400,000 jobs by 2020 to meet the Government’s renewable energy targets .
In a welcome move today BIS has committed £80 million to the waste infrastructure sector ahead of Green Investment Bank loans. The investment will provide support for energy-from-waste (EfW) projects. The Business Secretary Vince Cable has taken a ‘step’ in the right direction regarding the ‘opportunity to unlock substantial commercial investment in green technologies.’
For further information or to request an interview, please contact:
REA Press Office: +44 (0)2079 810 856, or:
Name: Gaynor Hartnell
Title: Chief Executive, REA
Tel: +44 (0)7870 629 575
Name: Leonie Greene
Title: Lead Author, ‘Renewable Energy: Made in Britain’
Tel: +44 (0)7932 720 091
Notes to Editors
1. The Renewable Energy Association represents renewable energy producers and promotes the use of all forms of renewable energy in the UK across power, heat, transport and renewable gas. It is the largest renewable trade association in the UK, with 960 members, ranging from major multinationals to sole traders. For more information, see: www.r-e-a.net
2. The Clean Energy Ministerial will take place at Lancaster House in London from 25th-26th April 2012, with energy ministers from 22 countries will meet to discuss low carbon energy. For more information, see: http://www.cleanenergyministerial.org/events/cem3/index.html
3. The Executive Summary of ‘Renewable Energy: Made in Britain’ is available at: http://www.r-e-a.net/resources/rea-publications Electronic versions are available to journalists upon request.
4. Renewable Energy World: ‘Renewables Experience Explosive Growth in First Three Years of Obama Administration,’ 2nd April 2012. Available at: http://www.renewableenergyworld.com/rea/news/article/2012/04/renewables-experience-explosive-growth-in-first-three-years-of-obama-administration
5. Barack Obama: ‘Remarks by the President on the economy,’ 26th May 2010. Available at: http://www.whitehouse.gov/the-press-office/remarks-president-economy-0
6. The Guardian: ‘India records world-beating green energy growth,’ 3rd February 2012. Available at: http://www.guardian.co.uk/environment/2012/feb/03/india-green-energy-growth
7. Bloomberg: ‘Renewable-Energy Growth to Outpace Oil, Gas Through 2030, BP Says,’ 18th January 2012. Available at: http://www.bloomberg.com/news/2012-01-18/renewables-to-grow-more-than-8-a-year-through-2030-bp-says.html
8. The EU Renewable Energy Directive requires the UK to meet 15% of its overall energy demand from renewables by 2020. This includes a requirement to meet 10% of transport demand from renewable sources. The UK intends to meet the remainder of the target by meeting 12% of heat demand and 30% of electricity demand from renewables by 2020, according to DECC’s 2009 Renewable Energy Strategy.
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