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Renewable Energy & Emissions Trading: Building the British Model

Renewable Energy & Emissions Trading
Fortnightly Magazine - February 2005
  • by giving them a 90 percent tax credit against their donations to various organizations earmarked by government as official recipients of such monies.
  • Capital Grants: The government has already made over $530 million in capital grants available for renewable energy ventures, across the technology spectrum, and these expenditures are likely to increase as the renewable energy market matures.
  • Strong Commitment to R&D:
  • The government has pledged $90 million for research and development into emerging renewable energy technologies. A recent result of this commitment is the development of the Centre for Environment and Sustainable Energy in Aberdeen, Scotland.

  • Industry Support Organizations: Scores of government agencies and trade organizations as well as university research centers have been developed to assist renewable energy companies in the UK. These include Renewables UK and the Renewables Advisory Board.
  • The western European and American renewable energies markets are beginning to gain momentum and support. The European Union (EU) - already the largest single market in the world - has made green-supportive policies a priority. This has created a broad market that offers American companies profitable opportunities for renewable energy investments and the development of new technologies. On the flip side, the US market which analysts estimated was worth nearly $14 billion at the end of 2003, will eventually offer European companies similar investment and trade opportunities. The UK is at the forefront of renewable energy in terms of marketplace maturity; as such, it offers a stepping stone into the broader European markets, and down the road, a breeding ground for US/European partnerships as the renewable energy market becomes a global enterprise.

    Energy supply and access to reliable, clean sources of energy are fundamental issues underpinning the UK's sustainable development agenda. The climate change issue is driving energy policy and generating greater support and demand for renewables. The UK government is taking its leadership role in the field of climate change seriously; to this end, it has established a progressive set of policy measures and a market framework aimed at enabling the UK to deliver a secure, safe, diverse and reliable energy supply at competitive prices, while meeting the challenges of global warming. This, in turn, has created a healthy marketplace hungry for American technology, investment, enterprise and innovation. As the demand for and application of renewable energy increases, so too do the opportunities for nimble and profit-minded American companies in this growing industry.

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