The Association for Renewable Energy and Clean Technology (REA)
has today published its latest annual report, REview 24,
which reveals that renewable energy now provides nearly half of
the UK's electricity (47%), up from just 15% a decade ago.
This significant achievement underscores the sector's pivotal
role in meeting the UK's net zero goals, ensuring energy security
and highlights its continued resilience and growth amidst
evolving energy demands and challenges. An acceleration of
renewables and decarbonisation is needed in the heat and
transport sectors however, where renewables account for only 9.4%
and 6% of demand, respectively. Overall, 15.5% of the UK's
energy (power, heat and transport) comes from renewable
sources.
According to REview 24, the UK's renewable energy sector reached
a market value of £24.38 billion in the 2022/23 fiscal year,
demonstrating strong progress during difficult wider economic
headwinds. With projections estimating a market expansion to over
£41 billion by 2035, the renewables sector is expected to play a
major role in boosting the UK economy while securing a
sustainable and independent energy future. Key renewable sources
such as wind, solar, and biofuels continue to outperform
expectations, attracting robust investment and driving innovation
across the sector.
The sector also registered impressive employment growth, reaching
nearly 143,000 jobs. Employment surged particularly in solar and
biofuels, with regions such as Yorkshire and the Humber leading
in biomass-based roles, and the North East benefitting from
large-scale offshore wind projects, including Dogger Bank, the
world's largest offshore wind farm. As the REA report reveals,
regional advancements in renewable projects are delivering local
economic benefits and fostering green job creation, strengthening
communities and diversifying employment opportunities across the
UK.
However, the REA highlights that continued government action will
be essential to unlock the sector's full potential. Meeting the
UK's ambitious net zero targets will depend on strategic
investments in grid infrastructure, stable local incentives, and
coordinated policies across government departments. With the
right measures, the UK can sustain its momentum, positioning
itself as a global leader in clean energy while enhancing energy
security and affordability for communities nationwide.
With a new government's commitment to green energy and the
public's strong support for a cleaner future, the UK could be
poised for another decade of growth in renewables. The REview 24
report calls for swift action to improve grid capacity,
streamline planning processes, and enhance public engagement to
support the transition. As the nation accelerates toward a
net-zero economy, renewable energy remains at the forefront,
setting the foundation for sustainable economic growth, job
creation, and environmental resilience.
MP, Energy Minister,
Department for Energy Security and Net Zero,
said:
“These findings confirm that the government's clean power
mission is not only the right long-term choice for our country,
but is essential to bolster our energy independence, protect
people's bills and help tackle climate change.
“Working hand in hand with our renewables industry, we've
already secured a record-breaking 131 renewable projects in just
four months. We've also set up Great British Energy, to help us
go further and faster on the energy transition to win jobs and
drive investment into our communities.”
Trevor Hutchings, Chief Executive of the REA (Association
for Renewable Energy and Clean Technology),
said:
“Released today on Finance Day at COP29, REview 24 is our
flagship annual report and a leading assessment of the UK's
renewable energy and clean technology sector. The report
provides insights on the impressive progress by the sector which
is worth over £24bn to the UK economy, employing around 140,000
jobs.
As the Prime Minister has reiterated in the last couple of
days, renewable energy and clean technology is driving economic
growth and creating jobs on a global scale. In the UK, it is also
providing nearly half of the country's electricity, but to reach
our net-zero goals, we need to accelerate action.
This report highlights the critical role of strategic
investment in infrastructure and the need for cohesive policy
across government departments in unlocking the sector's full
potential—and in winning the global race for green investment,
economic growth, and jobs.
With the right approach, the UK can lead the world in clean
energy, ensuring a sustainable, secure, and affordable energy
future for all. Working with our 500 member organisations, the
REA is committed to accelerating the journey to net
zero.”
Will Gardiner, CEO of Drax, sponsor of REview 24,
said:
“This report highlights the remarkable progress the UK has
made in transitioning to a cleaner, secure and more sustainable
energy system. Drax's long-term, reliable renewable electricity
projects in Yorkshire and Scotland could create thousands of high
skilled jobs which will power the UK's clean energy revolution
and supercharge economic growth.
As the sector continues to grow, we must prioritise rapid
decision making, the right policy support and continued
investment in order to achieve the country's 2030 clean energy
ambitions.”
—ENDS—
Read the full REview 24 report here: https://www.r-e-a.net/resources/review24
