Evaluation of the national energy investment opportunities in wind Essay

Evaluation of the national energy enthronization opportunities in wind extension in Uk - Essay ExampleThe current energy market consists of nuclear energy engineering science, hydroelectric systems, fogey fuels (i.e. coal and petroleum), with a sudden emergence in recent years of wind power training processes. This research project will focus specifically on electrical energy, with study players including n forcefulness, E-On, Scottish Power and EDF (Boilers Prices, 2012). Currently, 91.4 per centum of all electricity utilised in the UK come from traditional, non-renewable sources which indicates a need for further harvest-feast in renewable technology in this market. The entire UK energy market is currently valued at over ?28 billion (Research and Markets, 2008), which represents meaningful profit opportunities for the Big 6 energy providers, corporate investment and various venture capitalists looking for return on investment in energy. Passing of the Planning cultivate in 2008 provided new opportunities for all of these firms and independent investors to contribute more capital to infrastructure development by establishing a singular consent regime advocating more liberal government-mandated policies for what is referred to as disciplinely Significant theme Projects (Sustainable Development Commission, 2012). 3. UK renewable energy strategy The European Union has been integral in dictating policy regarding the renewable energy strategies for member nations. In 2001, the EU Renewables Directive proposed a target for member nations to earn 22.1 percent development of renewable electricity (Dept of Energy and Climate diversify, 2010). This Renewables Directive highlights specific, incremental steps necessary to achieve this target including solar photovoltaic, hydroelectricity and wind power. The UK share of this directive was to be 10 percent renewable electricity by 2010 (DECC, 2012), a target met when including wind and other renewable projec t developments in the UK. Currently, renewable electricity accounts for 9.6 percent of total UK renewable delivery with a significant surge in wind technology since 2007, a rise in output of 120 percent annually (Guardian.co.uk, 2011). Figure 1 illustrates the significant growth in renewable with an emphasis on wind power from 1997 to 2007. Figure 1 National Statistics Illustrating Growth in Renewable Energy Sources Source uk-air.defra.gov.uk/reports (2009). Statistics on Renewable Energy Improvements 1997-2007. Growth in renewable technology is being promoted by national government, local community government, corporate investment, and even consumer judgment about sustainable living that influences both policy makers and development of investment firms dedicated to improving renewable energy source production. For instance, the Carbon Trust, an independent yet governmentally funded company is currently a major advocate for renewable energy sources, reinvesting capital from various commercial activities and reapplying this capital to achieve this mission (Carbon Trust, 2012). Partnerships amid governmental actors, corporate investors, and independent companies like Carbon Trust have assisted in devising progress to have more transparent renewable markets internationally and domestically. They have influenced the implementation of the Climate Change Bill, a measure providing liberalisation, incentives