Report from the Institute of Welsh Affairs argues that combination of public and private investment could see the country fully decarbonise its electricity system over the next 15 years. Wales could shift to 100 per cent renewable electricity by 2035, creating over 20,000 jobs and delivering a £7.4bn economic boost for the country’s economy. That is the headline conclusion from a new report released last week by the Institute of Welsh Affairs (IWA) as part of the think tank’s Re-Energising Wales project, which argues renewables could play a central role in the country’s economic future. The report, entitled A plan for Wales’ renewable energy future: Essential actions to re-energise Wales by 2035, puts forward a 10 point plan to accelerate clean energy and energy efficiency investment across Wales. Specifically it proposes energy efficiency upgrades for 870,000 homes, the roll out of 2.6GW of solar capacity, 2.5GW of onshore wind capacity, 1.7GW of offshore wind capacity, and 4GW of marine and floating wind turbine capacity. It calculates that by 2035 Wales could boast just over 11GW of renewable power capacity delivering £7.4bn of gross value add across the economy. First Minister Mark Drakeford said Wales was already well established as a renewable energy hub in the UKL but hailed the report as “welcome insight” into how continued investment in renewables could be mobilised.
Business Green 19th March 2019 read more »