The UK’s fast-growing renewable-energy industry and its supply chain already supports 110,000 jobs and this could rise to 400,000 by 2020, according to a new report.
Revealing the findings today of their study into employment and turnover in the sector, trade body the Renewable Energy Association (REA) and consultant Innovas, will also announce it is now worth £12.5billion.
In addition, they will highlight annual growth of 11% for the industry; about eight times better than the UK economy. Their Renewable Energy: Made in Britain report underlines advances in wave and tidal technology, including at the European Marine Energy Centre in Orkney.
And it hails the role of the Scottish Government in being “particularly proactive” in encouraging wave and tidal projects, with schemes in Orkney and the Pentland Firth expected to help deliver up to two gigawatts of power by 2020.
“Britannia really could rule the waves when it comes to marine renewable energy,” REA president Tim Yeo MP says in the 58-page document.
But it also warns the UK risks failing to fulfil the potential of its “world-class” renewable-energy resources, adding: “Some technologies require urgent policy attention.”
Last night, Aberdeen Renewable Energy Group (Areg) chief operating officer Morag McCorkindale said the new report was a powerful endorsement of the opportunities for UK companies in renewable energy. She added: “Even at this early stage in the development of this new industry, the contribution to our economy in terms of value and employment is very substantial.
“The recent growth rate is impressive, given current economic times, and there are further opportunities to improve security of supply and reduce the costs of imported energy which are significant in economic terms.”
The planned European Offshore Wind Deployment Centre – one of Areg’s flagship projects – off the north-east coast is seen as pivotal to maintaining the region’s energy-based economy beyond oil and gas.
Today’s report, which comes amid a storm over the proliferation of wind turbines across Scotland, also says meeting UK green-energy targets would displace fossil fuels with a cumulative value of £60billion over the rest of the decade. Preparing for its launch, REA chief executive Gaynor Hartnell said: “Harnessing our renewables creates employment and means that rather than spending money on energy imports we can keep it circulating in the UK economy.”
Mr Yeo added: “The growth of the renewable-energy industry is a really positive story for the UK and this report provides a great synopsis of our current position and the opportunities for the future.”
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