A recent article published by the Independent (5^th July 2010) shared the opinions of Chris Huhne and Vince Cable- Liberal Democrat MPs -on the space in the economy for sustainable growth.

Environmental sustainability was a hot topic in the previous Government, with labour introducing feed in tariffs (FiTs) and plans for renewable heat incentives (RHI). Through election campaigns both the Liberal Democrats and Conservative parties also backed initiatives of incentives for the widespread installation of micro-generation technology across the country. However, recent silence over the new Government’s plans towards such environmental progressions had unnerved those in the industry.

However, fresh announcements are looking promising. In a recent discussion between the Energy Minister Greg Barker and MP Michael Fallon he stated that “the Government are committed to increasing the amount of renewable heat in the UK; this is a crucial part of ensuring we meet our renewables targets”. [Ref:http://services.parliament.uk/hansard/Commons/bydate/20100628/writtenanswers/part003.html]

Further, the Liberal Democrat MPs confidently reassure the industry with statements such as “We aim to construct a low-carbon economy that will meet our ambitious climate-change targets, deliver energy security and contribute to economic recovery.” Support for the micro-generation technology industry will be necessary if the Government wishes to uphold its target of 15% renewable energy by 2020.

Huhne and Cable go on to boast “there is a real chance of a win-win: investment in the short term that stimulates demand and generates jobs and at the same time prepares the ground for the long-term development of a low-carbon economy”. Indeed, U.K support for low carbon energy does seem to be strengthening, especially in the car industry, as Nissan’s electric car and Toyota’s hybrid have recently been produced in Sunderland and Derby respectively.

The MPs have a clear outline of necessary steps in order to ensure low-carbon growth. This involves the correct price signals being sent within the market constraints. Further, they express the need for major support towards new technologies within the area, quoting their announcement just today of “£10m in grants to companies working on next-generation offshore wind technology”

A final reassurance is given in their Independent article:

“The coalition’s commitment is clear: to implement a full programme of measures to fulfill our joint ambitions for a low-carbon, eco-friendly economy. Over the next few years, we aim to put in place a framework that will provide the private sector with the confidence needed to invest billions of pounds here in Britain in the face of global competition. Investment in low-carbon technologies and infrastructure, from electric vehicles to new renewables to home insulation, will underpin economic growth for long-term prosperity and climate security.”

All quotes, apart from where indicated separately, are sourced from: The Independant