The Labour Party has unveiled a report on the fastest pathway to decarbonising by 2030, which would require a ‘vast expansion’ of renewables and result in a net benefit of £800 billion.
The government is pursuing a “balanced approach” to net zero, energy and clean growth minister Kwasi Kwarteng has said, with Westminster keen to avoid picking winners at this early stage.
A Labour government would take the UK’s offshore wind capacity to 52GW within the next 10 years and invest billions in EV charging infrastructure, the party has said.
The “exceptionally low” results in today’s Contracts for Difference auction are proof that renewables are “blowing the competition of the water”, the green economy has said this morning.
The UK’s offshore wind sector has smashed records for price in the government’s third Contracts for Difference auction round, with prices running as low as £39.65/MWh.
Renewables are a ‘no regrets’ solution to power gaps left by nuclear if provided support through the Contracts for Difference (CfD) scheme, according to a new report.
