‘Reclaiming’ the green agenda 8th February, 2013 Nick Boyle
In an attempt to ‘reclaim’ the green agenda, reducing the country’s reliance on overseas gas, the Government is planning to invest up to £1bn in green energy, The Independent reports.
Under proposals, which will be released later this year, ministers plan to divert money currently set aside for building new gas-fired power stations into projects designed to lower electricity demand.
Sources close to the Government have suggested that the investment in green energy could cover projects such as replacing the whole stock of motorway lighting with energy efficient LED bulbs, as well as retrofitting energy efficient technology to ‘electricity intensive industries’ like aluminium and steel smelting.
The proposals are also expect to reveal that companies would be able to group together lots of smaller electricity saving projects in order to bid for the funds – with all electricity savings assessed from there.
The Department of Energy and Climate Change (DECC) has suggested that if a 10% electricity demand reduction was achieved, it could result in electricity system cost savings of around £4bn by 2030.