Labour Party has unveiled a plan on Twitter to turn the UK into a clean energy superpower by 2030 with plans to increase the generation capacity of technologies such as offshore wind and solar.
Labour claims this could save UK households a total of £93 billion over the rest of the decade. On average, this is the equivalent of saving £475 for each household every year.
Sir Keir Starmer, leader of the Labour Party, recently discussed his ambition to transform the UK into a green energy superpower allowing the general public to have access to cheap, green home-grown renewables and nuclear by the end of the decade.
“A central mission of my Labour government will be to turn the UK into a clean energy superpower,” Starmer said.
“Our plan for clean power by 2030 will save the British people £93 billion off their energy bills and break the UK’s vulnerability to Putin and his cronies. It will also drive higher growth and rising living standards.”
But how will this target be achieved? Announcing details of the plan to the Observer, the political party will quadruple offshore wind, triple solar and double onshore wind production by 2030. This could be crucial in weaning the UK off fossil fuel reliance – a major instigator of rising energy costs plaguing the UK.
The party have also said it would utilise nuclear energy to end the UK’s dependency on fossil fuels.
This would appeal significantly to the people of the UK with 77% of the public in support of the development of solar and wind farms to tackle the energy crisis, said Survation. 76% of people also are in support of building renewable energy projects in their local area.
The Conservative Party, meanwhile, announced three key support measures; the Energy Price Guarantee, the Energy Bill Relief Scheme and the Energy Markets Financing Scheme. Chancellor Kwasi Kwarteng set out that the Energy Bill Relief Scheme alone is expected to cost £31 billion over its first six months.
One key aspect of the Conservatives plan is “driving forward renewables” in order to tackle the rising energy bills. Much like Labour’s scheme, this could be fundamental to gain energy independence and transition away from fossil fuels.
However, Labour’s target is more ambitious, setting a target of 100% renewables by 2030, with the Conservatives having established a target by 2035. By 2030, the Tory government aims to have 95% low-carbon-electricity.
This will be of further concern with the Chancellor having received criticism for its plan to tackle the energy crisis via the mini-budget and the pound has seen a slump against the dollar as a result.
The cost of the Conservative schemes shall also be met by borrowing, a move criticised by the Labour Party amongst others.
The Labour Party has repeatedly called for a windfall tax on producers to help meet the cost of support during the energy crisis, with predictions that the oil and gas giants will make £170 billion in excess profits.
