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What if the credit crunch billions went to green energy?
Mon 20 Oct 2008
Technical Director Craig Simmons hypothesised with The Guardian on what the billions so quickly invested in the UK finance sector could deliver if channelled to renewable energy generation. He concluded that real long term investment in securing our future seems to have taken the backseat once again.
An equivalent injection of money would provide at least 32 TWh (terawatt hours) of clean, green electricity – about 8% of the UK’s total demand, putting the country well on track to achieve the EU’s 2020 renewables target. Carbon dioxide savings would be around 14 million tonnes and energy security would take a great leap forward. Charging for the energy would, at current prices, give a reasonable return on investment of 6%.
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