.3.2
from renewables
Bloomberg New Energy Finance suggests that renewables are
unlikely to be directly affected by shale gas, because their
adoption is driven by decarbonisation policy82. However, the UK
Government’s clear support for shale gas and, by contrast,
reductions in its support for renewable energy and energy
efficiency, may be deterring investment. For example, after the
Government’s failure to use the Energy Bill to introduce a target
for decarbonising the electricity supply by 2030, a group of
investors responsible for over £1 trillion called on Chancellor
George Osborne to reconsider. They argued that “The UK has the
potential to offer a safe harbour for renewable energy investors
in Europe, but the delay in delivering a stable policy framework is
weakening our prospects and holding back investment”83.
http://www.sgr.org.uk/sites/sgr.org.uk/files/SGR-CIEH-Shale-gas-bfg.pdf