The renewable power industry has warned that it needs £500m from the government over the next two years in order to meet future energy demands. Half of this amount of money will be used for developing wind power generation by installing wind turbines in the sea, while the rest will go to making wind and tidal power generation commercially profitable, because up to now it has only seen an experimental development.
This call for a large injection of public money was made by RenewableUK, a group previously known as the British Wind Energy Association, in a presentation to the energy minister, David Kidney.
RenewableUK pointed to the example of Denmark as a country that had benefited from giving strong support to this new green industry for the development of wind energy generation projects. Denmark invested £1.3bn into this sector, and as a result of this investment, renewable energy industries in Denmark are now producing benefits of £2.3bn annually.