‘Dramatic’ Cuts Rock Renewable Energy Companies

As the Government appears to have lost faith or interest in renewable energy, hundreds of green energy companies could evaporate and tens of thousands of jobs are in jeopardy, according to industry leaders.

According to senior figures within win, solar and tidal power, “dramatic” cuts for renewable energy from the Government is not instilling confidence within foreign investors and several British firms are teetering perilously close to bankruptcy.

And it’s just the confidence of investors that is shaken by the cuts. Professor Jacqueline McGlade, the UN’s chief environmental scientists, has said that the Government is sending a “perverse signal” to the rest of the world ahead of the Paris climate change summit next month.

Moreover, the Renewable Energy Association, the organisation which represents renewable energy producers, has said that there are 11 major policies from the Conservative Government that will have a negative impact on the industry.

“This represents the UK turning away from renewables, which is surprising given the extraordinary decline in costs and increases in technological efficiency that have been achieved over the past five years… The Government, frustratingly, seems intent on tripping up the industry within sight of the finishing line,” said James Court, the Renewable Energy Association’s head of policy.

The Solar Trade Association has revealed that 27,000 jobs could be lost as their 3,000 firms face Tory cuts. 1,200 jobs were lost last week as one of the UK’s biggest installers fell into administration.

It was revealed that the Government had pulled the plug on the Green Deal in July, casting doubt on the UK’s commitment to energy efficiency and climate change. This, combined with the news that hundreds of renewable energy companies could be no more, does not make pleasant reading for the Conservative Party

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