With The impending EU Summit shortly set to meet in Brussels with the new renewable binding contracts hot on the agenda. With this in mind renewable energy observers are stating the importance on the focus of renewable energy affordability.
How Can Renewable Energy Prices Become More Cost Effective
With many energy producers backing the 40% emission target cuts the focus now moves towards the motives to meet this objective with the UK currently lagging behind many other of it counterparts at this current moment. As ever the main determining factor that is currently inhibiting the larger uptake of things like solar panels and other renewable projects is price according to industry insiders.
Renewable Energy Is Cheaper Than Ever Before
This is the resounding answer to the claim of high green energy prices in the last 2 years alone solar panel prices have seen their install cost practically half while at the same time solar thermal and energy saving lighting such as LED lighting has seen its prices fall.
The EU Needs To Address Affordability
Thus is the view of Energy UK who have stated that the up coming summit seriously need to focus on pricing structures which in turn would lead to more attractive incentives from member states who while not yet completely ratified are to be tied into the 2030 objectives. The DECC and government would more than likely contradict this notion given the money they have investing within the Renewable energy sector from the FIT scheme for solar panels and the RHI for solar thermal etc.
Do The Government Renewable Incentives Need To Be More Effective
This is the premise of some of the recent changes to the ECO and Green Deal structure that the UK government and the DECC have been looking to produce to a tight deadline as they attempt to revamp the industry. Nevertheless Energy UK have written to the PM to urge him and his foreign minister to bring the agenda to the forefront when the discussions begin regarding the binding contracts for the 2030 renewable objective.
Why Are 2020’s Renewable targets still Important
This is the case as each member state is still under obligation to meet their 2020 objective and the new binding contract will not come into play until after this period had passed. Given recent studies into the UK’s position regarding the 2020 targets their has been claims that the UK have thus far vastly under invested when it comes to areas such as solar PV, wind and other renewable energy projects and are set to miss their agreed targets by some distance. This is in stark contrast to members such as Sweden and Estonia who have already met their targets.
Some previous related articles of interest:
Outside investment and the role it’s going to have long term for the UK solar sector
How the Merton Rule could effect the solar and thermal industry
How EU renewable targets are falling behind in the UK