The Energy Act, pushed through by Liberal Democrat Energy and Climate Change Secretary Ed Davey has received Royal Assent. The package of measures put in place by the law will support the creation of 200,000 jobs in the renewable energy sector including wind farms, solar and biomass.
The Act provides investors and industry with the confidence they need to invest in the energy sector and places a legal obligation on British governments to ensure the UK’s energy generating capacity is maintained while at the same time reducing emissions.
Liberal Democrats in Government have already secured more than £30bn of investment in renewable energy which will support around 35,000 jobs and this new package of measures is expected to attract around £40bn of investment in renewable electricity by 2020.
This will provide enough power for 10m homes while at the same time reducing carbon emissions by around 20m tonnes – equivalent to 25 per cent of annual household emissions.
Commenting, Liberal Democrat Secretary of State for Energy and Climate Change, Ed Davey said:
“The Liberal Democrats are the party of green. I am proud that we have stood up for our environmental principles in Government and put tackling climate change at the heart of the coalition’s agenda.
“The renewables industry is a British success story. Liberal Democrats know that green jobs and industry must be at the heart of the stronger economy and fairer society we are building. That’s what the Energy Act delivers.”