The UK government also recently announced huge funding injections to increase provision for local workers. This funding will strengthen the domestic manufacturing supply chain for offshore wind components. This program complements and boosts the government’s stated goal of making the UK a clean energy superpower. From an equity perspective, it further seeks to reduce and stabilize energy costs for families. This investment will equip communities across the country with a plethora of innovative renewable energy projects. It will fund the installation of community, school and hospital rooftops with solar.
Great British Energy has committed £200 million as an initial investment in renewable energy projects as part of this initiative. This investment incorporates nearly £3 million specifically to back community renewables in Wales. The company is clearly intent on doing their part to establish a robust supply chain for offshore wind components. They are supported by an up-front investment of £300 million.
A subsequent roundtable discussion led by Scottish Secretary Ian Murray in Edinburgh will continue to drill down into supply chain opportunities in Scotland. This convening is intended to help build connections between diverse stakeholders and support the growing trend of manufacturing renewable energy components here at home.
This issue was underscored by the then Energy Secretary Ed Miliband, who argued that local people should have a say in energy resources.
“British people should own and benefit from our own natural resources. We are giving people a stake in clean energy and delivering profits for the British people.” – Ed Miliband
Britain’s National Energy System Operator has done a forecast scenario where electricity demand could tumble in the summer of 2025. As a worst-case scenario, demand may not exceed 13.4GW. According to the grantee, this reduction is due to higher renewable generation, supplemented with cost-effective power imports from Europe.
Great British Energy chair Juergen Maier expressed confidence in the company’s direction, stating:
“Great British Energy was created to ensure British people reap the benefits of clean, secure, homegrown energy. We now have full backing to scale up the company, crowd in investment and back clean energy projects across the country.” – Juergen Maier
The federal government’s funding initiative has great potential to change the renewable energy landscape. It brings these great advances directly home to local communities, literally enriching them in the process. This funding is an important step toward ensuring that the UK’s future is greener. It puts sustainability and energy independence first.