Published: Fri, October 13, 2017
Sport | By Gary Shelton

United Kingdom government confirms up to £557 million for new renewable energy projects

United Kingdom government confirms up to £557 million for new renewable energy projects

Wednesday saw the UK Government launch its new Clean Growth Strategy which sets out how to grow the national economy while simultaneously cutting greenhouse gas emissions.

"Clean Growth is at the heart of the Industrial Strategy, and the United Kingdom government is determined to unlock opportunities across the United Kingdom, while cutting carbon emissions as the world moves to towards a low carbon future". The government will also invest £900 million in smart systems and demand-response technology, as well as nuclear and renewables.

The government has announced a raft of plans to invest millions in renewable technology and low carbon innovations as the United Kingdom works to hit its 2050 climate target. The world is moving from being powered by polluting fossil fuels to clean energy.

The UK government today released its Clean Growth Strategy, a plan to cut emissions, while delivering economic growth, including policies and proposals on transport, power, housing, business and the environment.

Alex Wild, research director at the TaxPayer's Alliance, argued against minister for climate change Claire Perry's statement that the government was considering reducing stamp duty to act as an incentive for people to make their homes more energy efficient.

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The UK Government has announced that the next wave of funding worth £557m to less established renewable energy projects will be offered in 2019.

The news was welcomed by industry groups, especially those representing the "less established" technologies likely to compete for the next auction.

In the most recent CfD auction, which ended last month, the cost of new offshore wind power had dropped by 50% compared to the first tender round held in 2015.

"Recent announcements in the offshore wind and vehicle manufacturing industries have highlighted how a clear vision, supported by detailed policies, enable the private sector to drive innovation, cut the costs of clean technologies and invest in United Kingdom jobs and supply chains". "Onshore wind is the cheapest form of new power generation, and it would be exciting to see what projects in the right places could deliver for United Kingdom consumers".

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