REA chief executive Dr Nina Skorupska has written to ministers discussing the EU 2030 climate and energy framework in Brussels this month, stating the economic case for binding 2030 renewables targets for individual EU Member States.
The UK government’s position to date has been opposed to binding 2030 renewables targets. The European Commission’s proposals, published in January, recommended binding 40 percent greenhouse gas targets and an EU-wide binding renewables target of “at least 27 percent”, but with no specific targets for individual countries.
Nina Skorupska’s letter states: “Greenhouse gas targets alone will not be sufficient to deliver the investment we need in green energy technologies. Moreover, nuclear and CCS have an inherent advantage, as these projects are developed by the established energy giants, while most renewable energy companies are independent SMEs. This makes it harder for renewables to compete for investment, but it also means that renewables, led by visionary entrepreneurs driving innovation in British technology, have unique potential for cost reductions. If current learning rates can be maintained, onshore wind and solar power will need lower strike prices than nuclear by the early 2020s, before any new nuclear power has actually been generated.”