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Government told to improve investment environment for onshore wind – 6th January

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A new study from University College London claims that better investment environments for onshore wind and a more harmonized electricity strategy will reduce power costs.

The Government has been told that they should make it easier for new investment into established renewables such as onshore wind, so as to reduce the price of power in the industry, according to a report from University College London (UCL).

The report, commissioned by the Aldersgate Group and published yesterday, warns that the cost of UK power will continue to rise above that of Europe unless action is taken to repair the energy industry.

The report recommends that lower cost renewables such as onshore wind should be given a subsidy free means to the marketplace, along with measured rises in carbon prices post 2022, to provide investors confidence for long term clean power funding.

Furthermore, the government is also recommended to ensure that investments into new sources, including solar parks and floating wind farms, is synchronised with network upgrades to avoid issues with the national grid.

It is hoped that this improved strategy for increased renewables usage will improve trust and efficiency in the industry, in turn reducing costs according to the paper.

The price disparity between the UK and parts of Europe is put down to interconnectivity and cross border energy trading, according to the report.

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