Renewable energy cost competitive with fossil fuels
Many renewable energy technologies have costs equal or lower than fossil fuels even without financial support and despite falling oil prices, according to the International Renewable Energy Agency (IRENA).The agency analysed the latest data from renewable and fossil fuel sources using the “levelised cost of energy” (LCOE), which represents the per-kilowatt cost of building and operating a plant over it
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The UK has lost significant market share in green technology to European competitors over the last two years, which will be worth £4.3bn by 2030.
The UK government has earmarked £5.5bn for a new Energy Bills Discount Scheme over one year, which is far less than the £18bn in support given for six months under the previous scheme.
One of the world’s leading climate physicists has again called for new regulation forcing the fossil fuel industry to carry out large-scale carbon capture and storage (CCS).
Around three-quarters of UK adults are currently worried about climate change, making it the joint most concerning issue in the country, a survey by the Office for National Statistics (ONS) has found.
The Department for Business, Energy and Industrial Strategy recently consulted on proposals to strengthen and improve the Energy Savings Opportunity Scheme (ESOS), and has published its response and decisions.