The select committee report, entitled ‘A Green Economy’, found that green investment should play a key role in the UK’s economic recovery. The REA has backed this conclusion whilst outlining that 400,000 jobs will be needed in the sector by 2020 in order to meet the nation’s carbon reduction targets.
Gaynor Hartnell, REA chief executive, added: “The government needs to enrich its understanding of the benefits of renewable energy investment. Currently this debate is being pushed forward on an ad hoc basis by various timely reports and well-informed politicians from all parties. There is frustration that government leadership is missing in practice, despite notable speeches, for example by Nick Clegg, on the importance of prioritising investment in energy infrastructure.
“Several countries, from America to Japan to Germany, have realised that taking the long-term view and investing in renewables is a significant step on the route out of economic malaise. The UK renewables industry wants to work with the coalition government to realise the huge contribution our sector can make to jobs, growth and prosperity.”