Government to stop funding Green Deal due to low take up rates and concerns over taxpayer money July 23, 2015 After not enough people took up the government on its offer, it quietly announced today that funding for the Green Deal, its household energy efficiency programme, has been cut. Read more: Green Deal faces criticism with uptake of only 1,612 last year Under the scheme, households could use cheap long-term loans to make their homes more energy efficient [...]
World’s first solar-powered plane Solar Impulse 2 grounded; halts its record-breaking round-the-world flight until 2016 July 15, 2015 The world's completely solar-powered plane, Solar Impulse 2, has had to halt its round-the-world journey in Hawaii after overheating its batteries in a record-breaking flight. Pilots of the experimental plane, the first of its kind, were attempting to circle the globe powered only by the sun’s rays. But today its website was updated: Breaking news: [...]
Oil giant Petroleum Development Oman plans huge solar farm to extract oil July 14, 2015 It sounds like the opening line of a gag: an oil giant is set to built the world’s largest solar project. An unexpected alliance will have Petroleum Development Oman, the country's state oil company, teaming up with Californian solar power startup Glasspoint to build a solar plant with capacity for more than a gigawatt of [...]
Bluefield Partners plans solar fund IPO to raise £142m July 13, 2015 Bluefield Partners yesterday said it is planning to float a second solar energy fund on the London Stock Exchange, which it hopes will raise at least €200m (£142m). Unlike its first listed fund, which invests in UK solar energy assets, the Bluefield European Solar Fund will look for opportunities in Eurozone countries – excluding [...]
UK renewables on the rise – but we’re far behind other EU countries July 9, 2015 The UK’s renewable energy consumption is on the rise – but we’re still lagging far behind other EU countries. Renewable and waste sources account for 5.6 per cent of the UK’s total energy in 2013, according to new figures released by the ONS today, suggesting that the UK’s economy is getting greener. This means renewables [...]
July Budget 2015: Shares dive for green energy firms as Osborne scraps tax exemption July 8, 2015 In today's Budget, chancellor George Osborne announced that the government is scrapping a green tax exemption enjoyed by renewable energy companies since 2001. Read more: George Osborne cuts corporation tax and bank levy as he tells firms "Britain is open for business" Currently, tax is not paid on renewable electricity supplied to businesses under renewable [...]
Green Investment Bank moves into profit ahead of government sale June 25, 2015 The government's Green Investment Bank (GIB) moved into profit in the past six months, it was revealed today – coinciding with the government’s decision to sell off its £1.4bn stake in the enterprise. At a London review, attended by chancellor George Osborne and business secretary Sajid Javid, the Edinburgh-based institution said it made a profit [...]
Wind energy subsidies will end next April June 18, 2015 The government has moved forward the end date for onshore wind energy subsidies, it revealed yesterday. The Department of Energy and Climate Change will close the renewables obligation to new onshore wind generating stations from 1 April 2016. The Conservatives had pledged to stop the subsidies in their manifesto ahead of the General Election, however [...]
Will ending onshore wind farm subsidies make a real difference to customers’ bills? June 18, 2015 Amber Rudd, energy and climate change secretary, says Yes If we’d allowed the existing subsidy arrangement to continue, we could have ended up with more projects than we can afford – which would have led to either higher bills, or other renewable technologies losing out on support. Our cap on renewable energy spending gives as [...]
How energy subsidies are teaching the EU an invaluable lesson in competition May 20, 2015 Of all the functions performed by the EU, competition policy is arguably the most important – and where it could stand to do the most good. Unfortunately, many of the Commission’s attempts at trust-busting have been misguided. Last month, for instance, its authorities issued formal charges against Google. And last week, we found out that [...]