Issues crucial to the future of new and emerging technologies, including the role of solar power and how the recession will impact on investing in these new technologies, are to be discussed at a conference hosted by the Institution of Mechanical Engineers in London later this month.
Investing in Alternative Energy aims to encourage greater Government investment in alternative energy and so aid the UK economy.
Speaking ahead of the event, Brian Robinson, IMechE’s Head of Energy, said: “The 2020 target to source 15 per cent of our heat, power and transport energy needs from renewables is challenging but still just about achievable — but only if radical new approaches are taken immediately.
"This includes a need for cultural change within Government, to focus on allowing entrepreneurs to exploit future opportunities and create low carbon, renewable technologies, industries, jobs and wealth for the UK. This event will highlight the importance of these issues.”
Organisations speaking at the event — on May 15th at the IMechE, Birdcage Walk — include Solarcentury, a London firm named the ‘fastest growing private energy company of any kind’. Founded in 1998, the firm designs and supplies solar energy solutions to the built environment. Others include London-based EcoCentroGen, a company which offers financial support to environmentally-friendly on-site energy centres, engineering consulting firm PB Power and international law firm Eversheds.
Key to economic revival
Jeremy Leggett, Executive Chairman of Solarcentury UK, is adamant that investment is the key to reviving the economy and combating climate change. “Alternative energy is the fastest growing energy market in the world but it is still yet to take off to its full potential because of a lack of investment," he said.
"It is currently increasingly difficult to attract investment because of the recession but the Government needs to press ahead with investment plans if alternative energy is to trigger an economic revival. The stark reality is that alternative energy will not make a difference to the UK — neither in terms of jobs nor carbon emissions — unless more money is invested.”
Government ambition to become a global leader in renewable energy was thwarted last month, says the IMechE, when Spanish power company Iberdrola Renewables, the world’s biggest investor in wind power, announced it was slashing its UK investment programme by £300m. Denmark-based Vestas, the world’s biggest maker of wind turbines, recently announced plans to cut 1900 jobs and close down its turbine plant on the Isle of Wight — despite a 70 per cent increase in profit — due to a drop in demand because of the recession.
For, further information about the Investing in Alternative Energy event, access the IMechE website link, below right.
