REA issues new report on UK’s renewable sector

The UK Renewable Energy Association (REA) has issued a new report on the country’s renewable sector, saying that the country’s mixed political messages run the risk of undermining new jobs and investment in the sector.

The latest survey shows that companies are more confident now and they will boost turnover, new business and employment over the next six to 12 months than at first quarter of 2013 with the clarity provided by the government’s Electricity Market Reform program, the stability of key support schemes and the scale of the market opportunity.

REA CEO Nina Skorupska said that the renewables industry is poised to significantly grow its contribution to employment and economic recovery.

"The growing confidence in the power sector and the Electricity Market Reform program is good news as the UK urgently needs new wind, solar and biomass to keep capacity margins healthy," Skorupska added..

"The government currently opposes a 2030 EU renewables target and is proposing to repeal the Planning & Energy Act.

"Reversing those stated positions would inject a huge boost into the sector and unlock much needed new jobs and investments."

The results of the REA’s survey show that the industry’s outlook since the first quarter of 2013 has improved, as 42% of companies surveyed expected to increase employment over the next six to 12 months, compared to 25% in first quarter.

Similarly, 20% reported good or excellent access to finance, compared to 14% in first quarter.

"As the arrangements for Electricity Market Reform have become clearer, confidence in the power sector has increased," Skorupska further said.

"We need investment now to bridge the generation gap and realize the potential for 400,000 renewable energy jobs by 2020."