The Renewable Energy Association (REA) and Innovas have released a report today which highlights the benefits to the UK economy which come from the renewables industry. It fact, it suggests that the sector could be responsible for as many as 400,000 jobs by 2020.
The report: “Renewable Energy: Made in Britain” has been released in the week of the Clean Energy Ministerial Summit which will see the David Cameron and Greg Barker, the Minister for Climate Change, make keynote speeches.
The key points of the report look at the turnover and employment figures associated with the sector. In 2010/2011 the industry was worth £12.5 billion and there were 110,000 jobs. This represented an 11% increase in market value since the previous year – this was compared to the general economic growth which was just 1.4%.
Gaynor Hartnell from the REA has stated that the government needs to build the required skills base to ensure the UK can continue to build on this success and meet renewables targets. Meanwhile Greg Barker has said that renewables is a key growth sector and that the report clearly sets out the challenges and benefits in this area.
The report also lists a number of recommendations including the appointment of a renewables minister, the recording of employment figures with the Department of National Statistics and a national strategy for renewable energy skills.
The report points out that failure to meet renewables targets will mean that most of the energy spending will leave the UK as the country becomes ever more reliant on overseas sources of coal, oil and gas.