The Economics of Renewable Energy: 4th Report of Session 2007-08, Vol. 1: Report, Volume 1The Government aims to increase renewable energy from 1.8 per cent to 15 per cent of energy consumption by 2020, in line with European Commission proposals. This report looks at the economics of renewable energy given the Government's policy to reduce carbon emissions. Chapter 2 gives a brief overview of Britain's energy system and outlines the Government's energy policy objectives. Chapter 3 examines the different renewable technologies used to generate electricity, and compares generation costs between them and contrasts them with fossil fuel-fired plants and nuclear power. Chapter 4 looks at the issues involved in balancing the irregular supply from renewable generators which depend on weather conditions against the continuous demand for electricity. The potential for renewable sources of heat and of transport fuels - an overlooked area even though they account for 80 per cent of UK energy consumption. - is examined in chapter 5. Chapter 6 reviews the key policy issues, the impact of renewable policy on fuel poverty, the planning system for renewable energy, and whether the 15 per cent EU target is achievable. The Committee finds that costs of renewable energy generation are more than conventional means. It recommends that the Government prioritise the development and promotion of the other effective and economic options, both to bring down carbon dioxide emissions and to achieve security of electricity supply. The most reliable renewable sources are tidal barrage and biomass, which are problematic for other reasons, and hydro-power which is near the limit of its potential in the UK. The most reliable low-carbon alternative to renewables is nuclear power, together with conventional fossil fuel generation with carbon capture and storage (if and when that becomes available). |
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Contents
Abstract | 6 |
Energy policy objectives 15 | 14 |
Generation from renewables in the UK | 20 |
Future changes in the costs of renewable generation 76 | 29 |
Peak demand and capacity credit 106 | 36 |
Renewables for Heat and Transport 142 | 46 |
Policy on Renewable Energy 174 | 54 |
Fuel bills 205 | 60 |
Recommendations and Conclusions 232 | 67 |
Call for Evidence | 75 |
Common terms and phrases
achieve Appendix base cost biofuels biomass Britain capital costs capture and storage carbon capture carbon dioxide carbon dioxide emissions carbon emissions Centrica Chapter Climate Change coal coal-fired connection consumers conventional plant costs of renewable Denmark deployment E.ON economic Emissions Trading Energy Technologies Institute estimates extra figures forms of renewable fossil fuel fuel poverty gas-fired Government Government's heat pumps higher household hydro hydrogen impact increase intermittent renewable investment load factor Lord low-carbon micro-generated million National Grid nuclear power offshore wind farms Ofgem onshore p/kWh paragraph peak demand pence per kWh potential power stations projects reduce carbon emissions renewable electricity Renewable Energy Foundation renewable heat renewable sources Renewables Obligation Renewables Obligation Certificates ROCs sector share of renewable storage technology suppliers supply target tidal tonne transmission UK Energy UK's UKERC wind farms wind power wind turbines
Bibliographic information
| Title | The Economics of Renewable Energy: 4th Report of Session 2007-08, Vol. 1: Report, Volume 1 HL paper House of Lords Papers House of Lords papers: 2007-08 Volume 195 of Paper (Great Britain. Parliament. (Session 2007-08). House of Lords)) Volume 4 of Report (Great Britain. Parliament. (Session 2007-08). House of Lords. Select Committee on Economic Affairs)) Report// House of Lords, Select Committee on Economic Affairs The Economics of Renewable Energy, Great Britain. Parliament House of Lords. Select Committee on Economic Affairs |
| Author | Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs |
| Publisher | The Stationery Office, 2008 |
| ISBN | 010401377X, 9780104013779 |
| Length | 90 pages |
| Export Citation | BiBTeX EndNote RefMan |