'More investment needed for sustainable cheap energy' - 11/03/2010
An expert has called on the government to investment more in the sustainable cheap energy sector.
Maria McCaffrey, chief executive of RenewableUK, said more public and private sector investment is required to facilitate the full expansion of renewable energy projects and encourage growth.
Speaking at the recent RenewableUK annual tidal and wave power energy conference, Ms McCaffrey pointed out that the renewable sector has been facing a funding crisis and many technologies are still in embryonic stages.
"We can create enough energy to power 1.4 million homes in Great Britain and into the bargain creating a £1.2 billion per annum industry by the end of this decade," she said.
"If we're really serious about creating such a force we need a policy framework which builds and which underpins that."
Ms McCaffrey said that in order to reach the next stage of implementing tidal energy, £50 to £60 million pounds in mostly capital support is needed over the next five years.
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