Funding & Incentives
- Category: Funding & Incentives
19 Jul 2012
- Published on Thursday, 19 July 2012 08:16
- Hits (1885)
Britain's renewables industry trade group, RenewableUK, is urging the British government to "make up its mind" and announce a decision to financially support the renewable energy industry as soon as it can. This comes after the Department of Energy and Climate Change announced that they will be delaying the changes on the Renewable Obligation subsidy mechanism, which was originally expected to come out last spring, to hold more discussions. "Any further delay in an announcement could have a devastating impact on investor confidence, job creation and the deployment of clean energy," said Maria McCaffery, chief executive of RenewableUK. A report from GreenWise said the department would likely make a decision before the next parliamentary session in the third quarter of this year. "In theory, we could make a decision over the summer. We are very much keen to get this published and we are committed to supporting renewables as part of the energy mix," a spokesperson of the department told GreenWise. Related to this, the group said the subsidy cuts proposed by the Chancellor of the Exchequer George Osborne – as much as a 25 percent cut – are "not supported by evidence." RenewableUK adds that it would be "unacceptable" if the decision were to be delayed until September, since the subsidies are expected to come in on April 2013.