Solar could outstrip nuclear power in contribution to UK economy

Figures show that solar power could be cheaper than constructing new gas within the next three years.

The report by the Centre for Economics and Business Research has shown that solar power has the potential to create 60 gigawatts of generation capacity by 2030, supporting 50,000 green jobs and contributing £25.5billion to the UK economy.

The report is the first to quantify the impact of solar energy upon the UK economy. Estimates show that with the right support, solar power could fall beneath the wholesale electricity price by 2024.

The data also shows that solar energy could cut the cost of household energy bills by £425 million by 2030.

The report also confirms that solar power could contribute more to the UK economy than any other energy technology.

Paul Barwell, chief executive of the Solar Trade Association comments: “The potential benefits of solar for the British economy are immense. British solar is currently right at the forefront of a global wave of investment and innovation.”

If you would like to get involved in creating sustainable energy in the Harborough area – either as a land owner or an investor, contact Harborough Energy today to find out more.