With the energy industry in its current state, it is a hot topic all across the UK. People from all walks of life are chiming in to give their two cents on the matter. However, it now seems that the Committee on Climate Change is saying that the UK government needs to invest more money into renewable energy. They said that doing this will save the government more money than if it takes part in the dash for gas.
David Kennedy, who is the current chief executive of the Committee on Climate Change, said that the sooner the UK starts investing more money in low-carbon technology, the quicker it starts saving money. Investing in this kind of technology will actually save the UK more money than investing in other forms of energy, like gas. These low-carbon energy alternatives include nuclear power, energy from waste and onshore and offshore wind farms.
Kennedy went on to point out that a new dash for gas would actually require the UK to invest a ton of money. That is because they would have to invest in shale technology. This would cost tens of billions of pounds. Not only that, investing in this kind of technology only helps the country for so long. Once shale gas depletes itself, the UK will find itself right back in the same situation.
The pursuit for shale gas, however, is working in other countries. For example, in the United States they have started an aggressive pursuit for shale gas. In turn, this has kept energy prices down and the United States is now a major export of natural gas. The United States is hoping to use this extra money to invest in more renewable energy.
Mr Kennedy added that investing in renewable energy makes sense. However, it only makes sense if people want to meet the emissions targets. If the government wants to honor the Climate Change Act, they will invest more in renewable technology. The targets on emissions set by the Climate Change Act need to be enforced. This is the only way the government is going to be able to spur on low-carbon investments in the UK. Companies need to know the path the UK is going to go down, and they need to know that this path is renewable energy.