Europe halfway to meeting green targets

But UK lags behind neighbours…

 

Europe on target for renewable energy, but UK must do better

New figures show that the European Union is halfway to reaching its target of producing a fifth of all its energy via renewable and low carbon means by 2020, but that the UK is lagging behind its neighbours.

The figures published by Eurostat show that Europe’s renewable energy consumption has risen by 0.6 per cent from 9.7 per cent in 2009 to 10.3 per cent, putting the EU over halfway to its target.

Of the three largest EU economies, the UK, France and Germany, France have the highest proportion of the EU’s renewable energy consumption with 11 per cent, while the UK use only 2.2 per cent of Europe’s green energy.

Each of the 27 EU member states have been allocated a percentage target to meet  by 2020, with the UK still requiring an increase of almost 13 per cent to meet their target of consuming 15 per cent of the EU’s renewable energy.

In order to meet the targets imposed on the UK, the Coalition Government will have to continue and expand their policy of offering monetary incentives in order to encourage investment in low and zero carbon (LZC) technology.

These include current measures such as the renewable energy feed-in-tariffs which have been established and the CERET scheme in which energy providers must supply homeowners with renewable incentives, to the forthcoming RHI scheme.

The Government will also hope that their plans to provide ‘green loans’ from a centralised green investment bank will help to increase the UK’s investment in LZC technology.

While there are a range of incentives available to both domestic and commercial properties, the Government may also need to do more to target industry rather than homes in order to increase Britain’s renewable energy consumption.

James Hargreaves Group

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