Budget 2009 News…

Wednesday, April 22, 2009

The 2009 Budget was announced today, with a new legally-binding UK carbon budget, which makes interesting reading for the renewable energy sector.

The points raised were:

Britain commits to cut carbon emissions by 34% by 2020
This will keep the UK on track for its long term goal of cutting emissions by 80% by 2050.

An extra £1.4bn to help combat climate change by supporting low-carbon industries
This includes £525m for offshore wind projects over the next two years

£445m support for energy efficiency schemes for homes, firms and public buildings
£375 million has been promised over the next two years to promote energy efficiency in households, businesses and public buildings.  This carries on from the one million homes insulated last year.  £70 million will also be spent on small-scale and community low carbon efficiency.

£405m to encourage low-carbon energy and advanced green manufacturing
£405 million will be spent on the development of a world leading low carbon energy and green manufacturing sector in the UK.

Carbon Capture & Storage (CCS) to be introduced
Carbon capture and storage (CCS) will be introduced in the move towards a low-carbon energy supply. New projects will demonstrate the capture and storage of carbon dioxide, rather than its release into the atmosphere.

Increase in fuel duty

Car scrapping scheme to be introduced

What Does This Mean For Me?

Domestically, it means there will be more money to support public buildings and households in become ‘greener’. It is claimed the Government aim to slash energy bills by around £60 million each year.

Commercially, it means more technologies will become readily available, and products will be manufactured in a more ‘greener’ way.

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