Labour has announced plans to boost the UK’s green energy sector, combat rising bills, create jobs, and launch a UK wealth fund. The plans are designed to revitalise the UK energy supply after the Tories underinvested.
UK Suffer Higher Prices Than EU
According to the commons library, “UK consumer prices for gas and electricity increased at a much faster rate than the EU average in both the first and second half of 2022. Price falls in the UK in 2023 were later than in most of the rest of Europe.”
Government Offered Support on Energy Bills
A range of measures was introduced to maintain a cap on energy bills. The government used taxpayer money to fund a price cap. They also paid a means-tested series of grants to help with bills.
Labour Plans to Help Control UK Energy
Under the announcement, Labour plans to increase the amount of renewable energy that contributes to the power supply. The increase will come from wind and solar in particular.
UK Geography Perfect for Wind Farms
According to experts, the UK is the ideal place for generating electricity from wind. This is thanks to a combination of long coastline, shallow water and strong winds.
Progress Being Made
The Tories have made progress; it’s just not been fast enough. However, the UK now produces more energy from wind than any other source, and there’s capacity and appetite for more.
GreenMatch Reports Wind Now Biggest Energy Producer
According to GreenMatch, “in the first quarter of 2023, wind power became the UK’s largest source of electricity, providing 32.4% of the country’s electricity, surpassing natural gas, which accounted for 31.7% of the electricity fuel mix.”
Price Rises Partly Caused by Issues Out of Government Control
The price rises over the last couple of years have been largely caused by disruption to the energy markets. This was caused by the Russian invasion of Ukraine, so it’s out of the government’s immediate control.
Lessons Need to Be Learned
The worry is that the necessary lessons aren’t being learned. The Tories have commissioned new licences on oil and gas, which reneges on their net zero commitments. Instead, critics argue they should be investing in renewables.
Domestic Control of Energy Removes Price Worries
Converting much of our power generation to wind makes us less susceptible to external price worries. When the energy is generated domestically, there’s less reliance on imports and international events affecting markets.
Wind the Perfect Solution
Wind is an ever-present resource in the British Isles, so coupled with battery technology, we could be less reliant on external sources. Estimates say it would take 7,000 wind farms to meet our power needs, so we’d still benefit even if we built most of those.
Investment Great for the Economy
Labour says it will create 35,000 jobs in the new green energy sector. These jobs, which are likely to be highly skilled and well-paid, would benefit local economies enormously.
Boost for Rural Economies in Particular
Wind power would create many jobs in areas in desperate need of investment. Rural economies would benefit enormously from the influx of investment and the downstream jobs it creates.
Large Public Support
Online commentary on the topic shows that the public broadly supports green initiatives. Some even feel frustrated that we’re not green enough already.
UK Spends Least on Green Energy
Research by Greenpeace shows that the UK spends the least of the big five European economies on green energy and low-carbon spending. Italy spends over three and a half times as much as the UK (US$47.8bn compared to the UK’s US$13.1bn). Germany spends almost three times as much as the UK, investing US$38.1bn.
Invest First, Benefit Later
Once the investment is pledged and the plans come to fruition, everyone in the UK should have cheaper energy bills. The investment cost is upfront, and when it leads to lower bills, we all benefit, including the government.
UK Has Easily Enough Resources to Meet Demands
A study by Oxford University shows that the UK can easily create enough energy with both wind and solar power. Their website says: “Wind and solar can provide nearly ten times current electricity demand (299 TWh/year). The research shows up to 2,896 TWh a year could be generated by wind and solar, against the demand forecast of 1,500 TWh/year (in 2050).”
Scientists Backing Labour Plans
Dr Brian O’Callaghan, the study’s lead author, said: “The UK is already lagging in the global green race. Instead of hitting reverse, we should be turbocharging on renewables with US-style incentives and gearing up our grid for the surge that is already underway.”
UK Has Potential to Become an Energy Exporter
According to reports, should Labour get into power and rush this investment, the UK could be a net exporter of energy into mainland Europe.
Get Green Right, and We Sell Energy
Former government economist Chris Walker conducted a report. He said: “The UK’s strong competitive advantages in clean energy generation mean it is uniquely well positioned in the race to net zero which can deliver significant and sustained economic growth, raised productivity and increased exports.”
Cheaper, Greener Energy Is the Future
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The world has to stop relying on fossil fuels, and investing in green energy is the way to do this. If it leads to cheaper, more stable bills, then you can bet it’ll be a vote winner for the party who takes it most seriously.
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The post Going Green: Labour Plans to Boost the UK Green Energy Sector first appeared on Edge Media.
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