Subsidy Cuts ‘Putting Future of Scotland’s Renewable Energy Industry At Risk’
July 25, 2016
Cuts to subsidies for renewable energy schemes could put the industry’s future prospects and thousands of jobs in Scotland at risk.
That’s according to a committee of MPs who have published a report on the subject and raised concerns that a lack of financial backing could be seriously damaging for the renewable energy industry across the UK and particularly in Scotland.
A total of more than 20,000 people in Scotland are employed within green energy sectors but the UK government has recently closed a number of schemes which support growth within the industry.
According to MPs who make up the Scottish Affairs Committee, these cut backs will have a “disproportionate impact” on Scotland, where renewable energy has been a significant growth industry in recent years.
“We have urged the government to clarify the future support which will be available to the renewable sector, and set out how they will work with the Scottish government to develop a clear, long-term plan that will allow renewable energy to remain a central part of the energy mix,” said Pete Wishart, chairman of the committee.
Wishart also suggested that the government’s decision to cut the scale of its funding for renewable energy companies has undermined confidence in the industry among potential and active investors.
Responding to the publication of the recent report, the renewables industry’s trade body Scottish Renewables has said that a long term plan for collaboration between the Scottish and UK governments is much needed if the green energy sector is to be properly supported.
“The committee has highlighted the very real and bruising impacts of the sudden cuts and changes made to renewable energy policy in the last year,” said Jenny Hogan, director of policy at Scottish Renewables.
“What the report illustrates is the lack of – and pressing need for – a long-term plan not just for how we develop renewables and meet our climate change targets, but for our energy sector as a whole.”
Job losses within Scotland’s renewable energy sector would add to the woes of the broader energy industry which has been struggling for growth for the past several quarters.
If you are finding it tough to cope with your personal finances or with your debt management problems then Scotland Debt Solutions may be able to help. You can contact us today to arrange a free and confidential consultation.
The start of a new year is the perfect time to take stock of your finances and put plans in place for a financially savvy year ahead. While you may feel your problems are insurmountable, there are always things you can do to help, most of them surprisingly easy. Here are 7 ways you can […]
If you have credit card debt which is attracting a high level of interest, moving this balance onto a lower interest card could save you a considerable amount of money. This process is known as a ‘balance transfer’, and if done correctly, this process could save you money and also reduce the time it takes […]
Many thousands of young Brits are being actively encouraged towards taking on debt and spending borrowed money even before they reach their 18th birthdays. That’s according to the price comparison website comparethemarket.com, whose research suggests that roughly one in four 16 and 17 year olds in the UK have been offered credit cards or asked […]
If you’re in serious debt with no hope of repaying your unsecured creditors, you don’t have to wait for a creditor to take legal action against you. You may be able to take matters into your own hands and apply for sequestration (bankruptcy in Scotland). This also prevents your situation from worsening. There are two […]
If you’re looking to save some money it’s a good idea to make a detailed budget that lets you see where your cash is currently being spent, and offers an overall view of your finances. You’ll need to collect together your income and expenditure details, including annual costs such as insurance, car expenses, birthdays and […]
Scotland has a number of formal debt solutions that can help you deal with a difficult financial situation. It’s advisable to take action as soon as possible, however, to prevent your levels of debt escalating when interest and other charges are added. Obtaining professional advice is key in this respect. An approved money advisor or […]