Comment on Labour clean energy plans

“There’s clear political consensus on lifting the onshore wind ban with Conservatives and Labour both committed to doing so. The question is how quickly this happens given bills are still high and the delay means less cheap onshore wind bringing down household costs. [2]

“The US and EU’s clean energy incentive packages mean two of the world’s biggest emitters and economies are now stepping up a gear to attract and grow green industries and polling shows Britons don’t want to be left behind in this race. [3]

“The list of companies considering switching investment across the Atlantic is growing [4] and with nearly a year since the US Inflation Reduction Act saw spades strike the ground in the US, the UK’s response won’t be ready until the autumn.

“The UK’s net zero economy is worth over £70bn and supports 840,000 jobs [5] and the public see it as the sector most likely to create economic growth in this country.

“The North Sea is in long term decline and additional gas from new fields wouldn’t make a dent in our gas supply or prices so, unless we reduce gas demand, we’ll just be paying more for foreign gas imports come 2030. [6]

“British renewables have a lower carbon footprint than gas, wherever it’s from and more offshore wind and solar will help shield households from volatile gas prices, which are predicted to remain two to three times higher than pre-crisis levels for the rest of the decade.”

Commenting on Labour plans to support the building of battery gigafactories, Colin Walker, Head of Transport at the Energy and Climate Intelligence Unit, said:“Cars make up 10% of the value of the UK’s total exports. Yet the main markets to whom the UK exports are phasing out petrol and diesel vehicles. If the car industry doesn’t make the transition to building electric vehicles, by 2030 over £13bn in export revenue could be lost. This would be a significant blow to the UK’s economy and put hundreds of thousands of jobs at risk.

“We’ve already seen UK companies, like the electric van maker Arrival, relocate to the US to benefit from the tax cuts on offer. Others, such as Vauxhall owner Stellantis, are also warning they may move abroad.”