LONDON: Ed Davey says ‘low carbon economy is now within reach’ as report finds sector accounts for 1.5 per cent of all UK jobs.
The UK low carbon economy was worth £122bn in 2013 and has been growing at seven per cent a year, according to government figures.
A low carbon investment report published today by the Department of Energy and Climate Change (DECC) says the sector supports over 460,000 jobs, which equates to around 1.5 of every 100 UK jobs.
In a foreword to the report, Energy and Climate Change Secretary Ed Davey said these jobs were benefiting the whole of the country.
“The great thing about green energy investment and jobs is that they are not confined to London and the South East,” he says. “Clean energy projects are booming in every region and country of the UK.”
Around £37bn has been invested in renewable energy generation since 2010, when the current government came to power, according to Bloomberg New Energy Finance. This averages out to around £7bn a year, up from £3bn a year under the previous administration – although 2014 saw £8bn invested, the DECC report says.
It highlights that electricity capacity from renewable sources has more than doubled in this Parliament to provide 18 per cent of the UK’s electricity needs – the country now has 4GW of offshore wind capacity, 8.1GW of onshore wind, 5GW of solar, 4.4GW of biomass, and 1.7GW of hydropower.
It also highlights a strong pipeline, with 11.3GW of offshore wind under
