Several leading eco-friendly entrepreneurs, traders, and economists will now contact the Treasury with a complete independent analysis into subsidies presented to britain’s energy industry, made to establish whether renewables really benefit more from government support than other powers. Experts from the UK’s alternative energy policy frequently reason that renewables are dependent on subsidies that increase energy bills and represent an excessively pricey way of cutting green house gas pollutants.
But supporters of alternative energy counter that even though it is essential to initially subsidise emerging clean technologies to assist them to keep costs down and contend with mature high carbon technologies, a network of opaque subsidies and regulations handed with other powers means it’s also unclear whether renewables really receive greater amounts of government support when in comparison to nuclear and non-renewable fuels.
This week’s letter, orchestrated by eco-friendly banking specialist Triodos and signed by a number of leading low carbon entrepreneurs and traders, including Ecotricity’s Dale Vince,Good Energy’s Juliet Davenport, Ben Goldsmith of WHEB Resource Management, and Dmitri Zhengelist of ‘cisco’, argues that in-depth research into energy subsidies is urgently needed to guarantee the current political debate on energy policy isn’t centered by “anecdotal tales”.
“Since most of the prices support systems to alternative energy are transparent and visual, experts describe them as subsidies. This is correct,Inch the letter states. “But it is also the case with all powers like non-renewable fuels and nuclear energy… Although the power sector operates by private enterprise, used it’s subsidised through the government via, amongst other things, the tax system, restricting liabilities, trade measures, and historic subsidies in building infrastructure.”
The audience cites a current Nederlander are convinced that demonstrated that there have been 53 various kinds of intervention within the country’s energy market that may be considered subsidies, the majority of which preferred non-renewable fuels. Additionally, it draws around the latest figures in the Worldwide Energy Agency’s World Energy Outlook, which came to the conclusion that this year global subsidies for non-renewable fuels capped $409bn, while subsidies handed to alternative energy arrived at only $60bn.
Some previous related articles of interest:
National trust to utilize more renewable energy
How Scotland is making the most of renewable funding
reactions to recent government long term energy plans