Energy is one of the main driving forces for the economy of any country. The government of the UK realizes this important fact and is committed to providing its citizens with a continuous and uninterrupted supply of power. The government is also aware of the need for cleaner energy sources. In fact, in view of this, the government has The UK Low Carbon Transition Plan which plans to decrease emissions by 34% by the year 2020. This plan alone requires an investment of about 450 million pounds. The government also has a goal of cutting down carbon dioxide emissions by over 80% by the year 2050. The success of this plan will require major investment, and global companies are going to play an important role in this. The UK government's Renewable Energy Strategy will create about half a million jobs all over the world and bring in investments to the tune of 100 billion pounds.
In the last few years, the UK has emerged as the second largest investment location in the world for renewable energy companies. The environment technology sector in the UK is vibrant and dynamic. This has been possible due to the proactive attitude of the government, which continues to launch various policies to encourage investment in this sector.
The favorable regulation policies of the UK government are playing an important role in attracting significant foreign investment to this sector. This is especially being seen in wind energy and nuclear power generation projects.
Energy Technologies Institute (ETI), a private/public partnership, has managed to bring together a number of large companies and is playing an important role in developing new technologies. The government of the UK has pledged to spend up to 1 billion pounds in funding research and development of energy sources in the coming years.
The energy industry and the UK Trade and Investment (UKTI) have together launched a UK energy brand to help better market the UK’s energy sector.
According to European Wind Energy Association (EWEA), the UK wind energy industry is witnessing a rise in sources of investment. A recent survey has revealed that about 75% of institutional investors are likely to invest even more in this sector by the year 2012.
The UK solar energy industry is set to see a tremendous rise in the next few years. This brings up exciting possibilities for investors. The UK’s solar industry has a brighter future ahead of itself after the implementation of the Energy Act in 2008. At the moment, the solar energy sector is dominated by photovoltaic (PV) systems in both personal and commercial spaces. It has been estimated that the PV market is expanding at the rate of 25% annually.
Investments in the field of environment technology have benefited heavily thanks to regulatory policies, especially in the case of waste management. Technology is being used to find better ways to recycle and process waste material.