Energy efficiencies outlined by Government

Business, industry and other organisations will get help to cut their energy costs with £10 million available this year to improve efficiency and reduce energy demand, Energy and Climate Change Secretary Ed Davey announced. He also unveiled new plans that will remove barriers to investment in energy infrastructure.

Mr Davey told this years’ CBI’s Energy Conference that the energy sector had seen £45 billion of investment between January 2010 and December 2013, with nearly £8 billion investment in renewable technologies in 2013 alone.

This investment tackles a legacy of underinvestment and neglect in Britain’s energy sector that had threatened energy supplies. Instead, the investment won since 2010 will keep the lights on and build a low-carbon energy system that will support up to 250,000 jobs by 2020.

Electrical efficiency could mean savings equivalent to 9% of total demand by 2030 – reducing the need for new power stations. The Government is testing whether projects that deliver lasting electricity savings at peak times, like replacing old light bulbs with LEDs or improving motors and pumps, could compete with generation, demand side response (DSR) and storage in the UK Capacity Market.

The report shows that energy projects make up around 60% of the UK’s total infrastructure project pipeline – worth around £200 billion in its entirety. The UK remains one of the most attractive places in the world to invest in renewable energy, according to Ernst and Young, and is the best place in the world to in invest in offshore wind and marine power. Fifteen per cent of Britain’s electricity now comes from renewable sources.

 

Tags: , , , , , , , ,

Comments are closed.