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Investment set to grow for renewables

May 16th, 2014 | 2:40 pm

Investment in the renewables sector has grown consistently since 2010, and despite concerns around policy uncertainty, industry predictions see this growth continuing.

The recent report from the Renewable Energy Association, REView - Renewable Energy View: 2014, provides a level of analysis which is sure to boost confidence across the renewable heat and electricity sector.

The report indicates that the focus of investments themselves is shifting across technology types. Between 2010 and 2013, 93% of investment in renewable energy went to electricity generating projects whilst only 5% went to heat generating projects. However, predictions see this makeup changing, with renewable heat expected to receive up to 37% of future investment if 2020 climate goals are to be met. Bioenergy is likely to receive the most investment, followed by solar thermal and heat pump technology.

The renewable electricity sector is still predicted to grow by approximately 10% per year. Wind and solar are likely to maintain their positions as the biggest recipients of investment but biomass is predicted to be replaced by mixed waste-to-energy as the third most investible technology.

It is the sectors which are estimated to see some of the biggest investment, solar and biomass heat, which are likely to be responsible for most job growth. The UK renewables industry already employs over 100,000 people, and despite a slight shortfall in recent years due to policy changes, it is estimated that up to a further 20,000 jobs could be created within three years.

Increasing public support for renewables, also discussed within the report, will complement increased investment. Surveys show that onshore wind receives 5 times as much support as opposition, biomass and offshore wind receive 10 times, whilst solar and marine technologies see 20 times as much support as opposition.

CO2Sense specialise in offering ethical investment to community and commercially owned medium scale renewable energy projects. We closely monitor the renewable energy sector to ensure our products meet the needs of developers, often filling the gaps where other funders are inactive. We are currently inviting developers with a funding needed to speak with us about their projects. For an informal discussion or to find out more about the CO2Sense offering, contact Kulraj Heer on 0113 247 3848 or kulraj.heer@co2sense.co.uk.

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