In a media briefing, UK experts stressed the need for an ambitious response to the US Inflation Reduction Act in the upcoming Autumn Statement.
They call for significant public-private collaboration, increased investment and a clear pipeline of opportunities to address challenges in electric vehicle manufacturing and incentivize renewable energy.
Ana Musat, Executive Director, Policy and Engagement at Renewable UK: “The question is are we unlocking everything that could be unlocked if we had a proper industrial strategy in place? And the answer for now is not really.
“By devising an industrial strategy and looking at where Government can work together with industry to maximise those areas of competitive advantage is going to be really important. The Autumn Statement, if it is to be the response to the Inflation Reduction Act, really should look at that.”
Nick Winser, Commissioner, National Infrastructure Commission: “This upfront investment will be required to enable our transition off fossil fuels, reducing household bills for the longer term, as well as delivering improvements to water quality and improving the climate resilience of key networks.”
Dr Chris Case, Chief Technical Officer, Oxford PV: “The US and EU markets are offering the most attractive and supportive proposition right now for companies such as ourselves, which are seeking to accelerate the clean energy transition by scaling innovative, next generation technologies.
“The UK Government should prioritise subsidies to renewable sources of energy such as solar and wind, instead of fossil fuels or nuclear. There is also a responsibility to educate and drive an attitude change towards renewable energy in the UK.”
