Renewable energy sources will save the UK an equivalent of £84 per person per year, according to chief scientific adviser to the Department of Energy and Climate Change, Prof David Mackay.
While the saving alone might sounds like music to our years, when contrasted with what continuing to import fossil fuels is projected to costs us, it sounds even sweeter. The top government adviser has calculated that continuing to rely on coal and gas will cost each of us an equivalent of £4,682 a year and will mean the UK will miss its carbon reduction targets.
In contrast investing in renewable sources of energy such as wind would save £84 per person per year, bringing the cost down to the equivalent of £4,598.
A ‘least cost’ scenario envisages that by 2050, the UK will generate 42 per cent of its electricity from renewable sources, 31 per cent from nuclear and 27 per cent from gas. Adding more renewables to the energy mix drives down costs by 1.8 per cnet, according to Professor MacKay.
The cost figures are all based on the total cost of the investment needed to keep the lights on in the UK, and shouldn’t be confused with the cost of domestic fuel bills.
Commenting on the news, Jennifer Webber, RenewableUK’s Director of External Affairs, said: “This is a timely reminder from the Government’s Chief Scientific Adviser that doing nothing is not an option – we simply cannot afford to go on relying on high-carbon sources of energy. If we want to act in a manner which is financially prudent, and save money in the long term, we need to invest in renewables such as wind, wave and tidal energy".
Professor MacKay’s comments come as the government continues to tackle a backlash against the cuts to solar feed-in-tariffs (FiTs). Climate Change Minister Greg Barker is currently leading an appeal against a High Court ruling that halving the incentives to 21p per kWh was unlawful.
