WIREDGOV

Leading global insurer RSA and environmental organisation WWF recently released a comprehensive report on the future of renewable energy and outlined a challenging vision for 100% adoption of renewable energy to meet the world’s energy needs by 2050.

The report clearly finds that the current ‘business as usual’ attitude to energy production and consumption is simply not sustainable and that it is possible to achieve an almost 100% renewable energy solution within the next four decades.

Nick Molho, Head of Energy Policy at WWF-UK, said: “It’s clear the way we produce energy today is not sustainable. Our vision may be ambitious but it is also grounded firmly in today’s reality; although there’s no doubt that significant challenges need to be overcome.

“Energy efficiency and renewable energy must be the two key priorities for global leaders if we are to move towards a truly sustainable future.”

As well as exploring the environmental benefits of a greater shift to renewable energy, the report also addresses the greater economic benefits, with the renewable energy sector powering the next generation of manufacturing industries and in turn creating many thousands of new jobs.

Commenting on the economic benefits, Mark Potter, Head of Renewable Energy at RSA, said: “Renewable energy can play a key role in stimulating local economies and regenerating communities.

“Projects are often located in remote rural areas, many miles offshore or in desert terrain. After the initial manufacturing and installation phase, they require ongoing maintenance and service support and this creates a huge opportunity for employment. This type and scale of investment can transform previously declining industrial areas into thriving renewable support centres.”

Perhaps less understood, however, is the potential positive societal impact that local ownership of power generation offers. As more communities become involved in the planning of renewable energy projects and begin to see the environmental, financial and employment benefits of local power generation, they are more likely to feel a sense of ownership of the energy infrastructure and this should help developers overcome some of the historical local planning objections.

Lending her support to the report, Laura Sandys MP for South Thanet, said: “I welcome this report by RSA and WWF as a timely contribution to the debate on renewable energy. Low carbon energy sources have a vital part to play in our future energy mix and this report highlights the importance of improving energy efficiency on both the supply and demand side and the need to accelerate the transition to a low carbon, sustainable future.

“The development of low carbon energy sources is not only beneficial from an environmental perspective, there are also wider socio-economic benefits. The renewable energy industry, for example, holds significant potential for growth and job creation, particularly in areas such as East Kent which has already benefitted from investment in this sector."

The report also calls greater partnership between government and business, with finance and planning outlined as the greatest barriers to growth. In order to achieve a 100 per cent renewable future by 2050 it will require a concerted effort to get there:

· Greater access to capital: the cost of developing a solar or wind farm is substantial but with the right financial structures in place the economic case can be compelling and will become even more so, as costs fall with technology improvements, development of domestic supply chains and economies of scale.
· Incentives: governments need to provide competitive and lasting financial incentives for renewable energy developments to give investors the confidence to invest in the long term.
· Better connectivity: we need grid infrastructure that goes beyond national borders to help match fluctuating supply and demand. The UK, for example, could meet all of its energy needs through a combination of its own wind and tidal power supplemented by Alpine or Scandinavia hydro and solar from the Mediterranean.

True collaboration will be key. Only by government, insurers, manufacturers, utility companies and environmental organisations working together will we succeed in reducing our reliance on fossil fuels and moving to a low carbon, sustainable energy future.

Read the report here:
http://assets.wwf.org.uk/downloads/insurance_renewable_energy.pdf

For further information please contact:

George Smeeton, Tel: 01483 412 388, Mob: 07917 052 948, email: GSmeeton@wwf.org.uk

Bart Nash, Group Head of External Communications, Tel: +44 (0) 207 111 7336, email: bart.nash@gcc.rsagroup.com