We were interested to read that President Obama has expanded his initial $10bn renewable energy loan guarantee scheme by a further $1.24bn. Why is this relevant to us in the UK you ask? Well, in the context of our government’s scrapping of a large slice of the renewable energy incentives available, in addition to further reductions anticipated in the Feed in Tariff, it is interesting that the US have gone the other way.
I think we’re all aware that the US don’t have the best track record in delivering sustainable energy but it is clear, as evidenced by Obama’s recent interview with Sir David Attenborough, that the tide could be turning. There is an argument that the UK grid can’t cope with much more renewable generation, but with energy storage and management systems, like the WATTSTOR battery storage system and WATTSTOR IMP export limitation device it is possible to continue to incentivise and subsidise renewable energy without compromising the grid infrastructure.
The arguments around whether subsidies and initiatives represent good value to the tax payer are well documented. What government seem to lose sight of is that investment now in a sustainable future will benefit us all in the long term.
President Obama’s interview with Sir David Attenborough can be seen in full via the following link: https://www.youtube.com/watch?v=NZtJ2ZGyvBI
An artcile outlinig the US plans in more detail can be read via this link: http://www.tcetoday.com/latest%20news/2015/august/obama-offers-us$1-24bn-for-clean-energy.aspx#.Vd7B7flVhBc