UK renewables on the rise – but we’re far behind other EU countries July 9, 2015 The UK’s renewable energy consumption is on the rise – but we’re still lagging far behind other EU countries. Renewable and waste sources account for 5.6 per cent of the UK’s total energy in 2013, according to new figures released by the ONS today, suggesting that the UK’s economy is getting greener. This means renewables [...]
July Budget 2015: Shares dive for green energy firms as Osborne scraps tax exemption July 8, 2015 In today's Budget, chancellor George Osborne announced that the government is scrapping a green tax exemption enjoyed by renewable energy companies since 2001. Read more: George Osborne cuts corporation tax and bank levy as he tells firms "Britain is open for business" Currently, tax is not paid on renewable electricity supplied to businesses under renewable [...]
Green Investment Bank moves into profit ahead of government sale June 25, 2015 The government's Green Investment Bank (GIB) moved into profit in the past six months, it was revealed today – coinciding with the government’s decision to sell off its £1.4bn stake in the enterprise. At a London review, attended by chancellor George Osborne and business secretary Sajid Javid, the Edinburgh-based institution said it made a profit [...]
Wind energy subsidies will end next April June 18, 2015 The government has moved forward the end date for onshore wind energy subsidies, it revealed yesterday. The Department of Energy and Climate Change will close the renewables obligation to new onshore wind generating stations from 1 April 2016. The Conservatives had pledged to stop the subsidies in their manifesto ahead of the General Election, however [...]
Will ending onshore wind farm subsidies make a real difference to customers’ bills? June 18, 2015 Amber Rudd, energy and climate change secretary, says Yes If we’d allowed the existing subsidy arrangement to continue, we could have ended up with more projects than we can afford – which would have led to either higher bills, or other renewable technologies losing out on support. Our cap on renewable energy spending gives as [...]
How energy subsidies are teaching the EU an invaluable lesson in competition May 20, 2015 Of all the functions performed by the EU, competition policy is arguably the most important – and where it could stand to do the most good. Unfortunately, many of the Commission’s attempts at trust-busting have been misguided. Last month, for instance, its authorities issued formal charges against Google. And last week, we found out that [...]
UK government’s Green Investment Bank joins E.On to fund Rampion offshore wind farm May 18, 2015 The government-backed UK Green Investment Bank (GIB) yesterday announced it has bought a £236m stake in a joint venture with E.On to build and own the Rampion offshore wind farm off the coast of Brighton. The project is receiving £1.3bn of funding in total, and will continue to be partly owned by Germany’s E.On following [...]
Global carbon dioxide level is at its highest in over three million years May 7, 2015 The amount of carbon dioxide in the world's atmosphere has reached its highest point since humans came into existence, and there's little chance of reversing the damage. In March 2015, the US National Atmosphere Administration (Noaa) measured the global concentration of the gas as 400 parts per million (ppm), adding that the last time it [...]
Audi is driving down carbon emissions with a diesel made of nothing but air April 28, 2015 If zooming around London in your flashy Audi seems to annoy the people on the streets around you, at least you'll soon be doing the environment a big favour. The German car maker has created a new kind of “carbon neutral” diesel at its research centre in Dresden, made using nothing but three components [...]
Let’s get ethical: Abundance’s Bruce Davis on what crowdfunding is offering investors with a conscience March 18, 2015 Are we becoming more ethically aware when making investments? According to recent research conducted for Triodos Bank, more than one in 10 Brits say that they plan to remove any investments they hold involving fossil fuels over the next 12 months. And among 18 to 34-year olds, the proportion rises to 40 per cent. But [...]