Substantial funding for sustainable energy welcomed by industry
The Chancellor, Alistair Darling, has set out this year’s budget and given a massive boost to microgeneration manufacturers by pledging £5 billion to low-carbon investments.
The Chancellor, Alistair Darling, has set out this year’s budget and given a massive boost to microgeneration manufacturers by pledging £5 billion to low-carbon investments. This will help to generate 900,000 jobs in the renewable energy industry. Substantial funds have also been pledged to support existing manufactures. This will place the UK at the forefront of a worldwide low-carbon boom.
A sum of £45 million has been set aside for small-scale renewable energy through the Low Carbon Buildings Programme. Grant assistance has allowed the renewable energy industry to grow and develop.
One company set to benefit will be Scottish wind turbine manufacturer Proven Energy.
Craig Jones, Head of Business Development, at Proven Energy said, “This is a huge boost for UK small wind manufacturers. Wind turbines are a cost effective renewable energy source and wind is a resource that the UK is not short of! Proven Energy is eager to assist the government to achieve their environmental objectives for reducing the UK’s carbon dioxide emissions. We hope that this support will enable us to continue exporting our product around the world”.
The Chancellor also set legally binding targets of 34% reduction in carbon emissions by 2020.
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