The government must take a system-wide approach to energy that addresses costs to businesses, while also ensuring a secure, low-carbon energy supply, new research has found.
The Engineering an Economy That Works For All report, published by the Royal Academy of Engineering (RAEng) on 24 April also recommended that to avoid cost overruns policies that provide support for renewable technologies should have “clearly articulated deployment targets and payment reduction structures” so that they fall in line with the prices of renewable technologies. Currently the costs of these schemes are recovered through a levy on energy bills.
Sustainability site Edie, quoted Energy Institute CEO, Louise Kingham, who said: “Energy and climate change policies are integral to the UK’s future prosperity. They present significant economic opportunities as well as risks that need to be managed.”