New report shows renewable energy’s continued growth

According to Renewable Energy, a new Market Report published by market intelligence provider, Key Note, the renewable energy industry in the UK achieved continued growth over the past 5 years, with consumption of renewable energy (including biofuels, biomass, wind, wave and tidal, hydro, transport, heat pumps, solar energy) increasing by 61% between 2009 and 2013.

Despite the considerable increase, the UK renewable energy sector is still falling behind its target of sourcing 15% of its total energy consumption from renewable sources by 2020, which is required by the EU. In October 2014, the UK was identified as one of the 14 EU Member States that had failed to meet its renewable energy target set by the European commission.

The Department of Energy & Climate Change (DECC) predict that the UK's renewable energy demand will more than double by 2020, with the highest demand seen in 2016. Key Note expects some of the more costly renewable technologies to lower in price over the next few decades, as the government and the industry attempt to find ways to bring down costs of renewable technology.

Find out more here: http://www.keynote.co.uk/market-intelligence/view/product/11323/renewable-energy?highlight=renewable&utm_source=kn.reports.search