EU countries should place far greater emphasis on developing effective carbon pricing mechanisms than on delivering subsidies for renewable electricity if they want to drive decarbonisation, according to LSE’s Grantham Research Institute on Climate Change and the Environment. Research presented to policy makers in Brussels today by the academic institution points out that the EU’s decarbonisation of the power sector is now entering a “new phase” thanks to the dramatically falling cost of renewables such as wind and solar power, which will soon mean they no longer need state subsidy support to encourage development. The EU is currently on track to meet its 2020 emissions targets, but will need to put in place stronger policies in order to meet its more ambitious 2030 target of cutting annual emissions by 40 per cent from 1990 levels, according to the report, which was funded by Norwegian energy company Statkraft. It argues carbon pricing, including through the EU’s emissions trading system (ETS), represents a much more cost-effective means of cutting greenhouse gases from Europe’s power sector. It will also encourage the greater use of mature low-carbon sources of electricity than state support for renewables, it argues.
Business Green 5th Dec 2017 read more »
The owners of the Lochaber Smelter near Fort William plan to become the largest provider of renewable energy in the UK. GFG Alliance has begun the process of acquiring Green Highland Renewables (GHR), which has 18 hydro-electric stations across the Highlands. The alliance has also proposed constructing eight new hydro-electric plants on land it owns in Lochaber. It is also currently consulting on plans for a 54-turbine wind farm.
BBC 5th Dec 2017 read more »