EU clears law to boost green tech production: comment

Commenting on European Union governments clearing new legislation aimed at ensuring the bloc produces 40% of its solar panels, wind turbines, heat pumps and other clean tech equipment [1], Gareth Redmond-King, Head of International Programme at the Energy and Climate Intelligence Unit (ECIU), said: “The US and now the EU have plans for securing major investment in net zero industries. Despite some efforts to try to create culture wars in certain European countries, the EU is clearly committed to shifting to clean technologies and getting off Russian fossil fuels.

"CBI Economics estimates the UK’s net zero economy is worth £74bn, growing 9% in the last year compared to relative stagnation in the broader economy [2], but this can’t be taken for granted. The UK took an early lead in offshore wind but the Government’s failure to secure new wind farms at its last auction clearly sent the wrong message to investors. This is a global race to win market share in the industries of the future and the UK needs to be offering a clear plan and the right incentives. Polling shows the public see renewables as the number one growth industry for the UK. [3]

"More British renewables means less reliance on gas, the price of which can be highly volatile as anyone paying an energy bill in the past two years knows.”

ENDS

Notes to editors:

1. EU clears law to increase domestic green tech production: https://www.reuters.com/sustai...

2. The UK’s net zero economy: https://eciu.net/analysis/repo...

3. Election poll: Voters for all parties committed to net zero: https://eciu.net/media/press-r...

For more information or for interview requests:

George Smeeton, Head of Communications, ECIU, Tel: +44 (0)7894 571 153, email: george.smeeton@eciu.net