REA comments on Summer Economic Update
Dr Nina Skorupska CBE FEI, Chief Executive of the REA, commented:
“Today’s announcement confirmed a lot of what we already knew, £3bn funding for energy efficiency improvements and a drive on green job creation. Although we support the sentiment and maintain that this is a good first step, in reality, these funds are a mere drop in the ocean of what is needed to truly stimulate the economy and set the Government on track for Net Zero by 2050.
“The foundations for a successful Green Recovery are there; recognition of the need to upskill and train a new generation of green employees, an area we have often advocated for, and an understanding that energy efficiency and homes need to be prioritised on the road to Net Zero. However, the ambition in terms of funding is severely lacking and in some areas clarity over the details, such as whether the Green Homes Grant includes domestic installation of solar, energy storage and biomass boilers as well as insulation.
“In light of this, we urge the Chancellor to use the time between now and the Autumn Budget as an opportunity to work with the industry to create a comprehensive and far reaching plan that will ensure a successful and inclusive Green Recovery.”
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Notes to editors
- The Chancellor’s full speech can be found here.
- The REA’s report, Reviving the economy, growing the renewable and circular economy and delivering net zero is available here.
About the REA
The REA is the UK’s largest trade association for renewable energy and clean technologies with around 550 members operating across heat, transport, and power. The REA is a not-for-profit organisation that represents renewable energy and clean technology companies operating in over fourteen sectors, ranging from biogas and renewable fuels to solar and electric vehicle charging. Membership ranges from major multinationals to sole traders.
For more information, visit: www.r-e-a.net