LONDON, England 10/24/11 (PennWell) – Recently proposed changes to the United Kingdom’s Renewable Obligation Certificate program should benefit wave and tidal technology markets.
If the Department of Energy and Climate Change gets its way, the number of ROCs per MWh of marine energy currently offered will increase from 2 ROCs/MWh to five – meaning projects in England and Wales would benefit from the same level of support currently offered by the Scottish government for projects in Scottish waters.
The proposed changes are not only intended to stimulate research, but also to ensure that developers who test marine energy devices in the UK also work toward implementing full-scale projects in the UK based on that research.
“Investing in green energy boosts growth and creates jobs,” said Deputy Prime Minister Nick Clegg. “[The] announcement makes clear the government’s commitment to supporting long-term investing in the UK’s renewables industries.”
The proposal does have its limits though as the DECC has set a 30MW cap on marine projects eligible for 5 ROCs in an effort to discourage giant wave and tidal arrays. The largest current project is smaller than 10MW, however, so the cap is unlikely to affect new developers.
““The renewables industry can bring in billions of pounds of investment into the UK economy,” said Chris Huhne, Secretary of State for Energy and Climage Change. “Our ambitions for these technologies reflect our desire for the UK to be the number one place to invest.”