Clean Energy Technology Private Sector Investment 2023-07-04
2023-07-04
TAGS
Response quality
Questions & Answers
Q1
Direct Answer
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Context
The question arises from the need to encourage more private sector involvement in renewable energy initiatives.
What steps he is taking to encourage private sector investment in clean energy technologies?
Our “Powering up Britain” plan seizes opportunities from the transition to a decarbonised energy system. Our policies, backed by billions of pounds of Government funding—but more importantly, leveraging in about £100 billion of private investment—will support up to 480,000 jobs in 2030.
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Q2
Direct Answer
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Enfinium is building a new energy-from-waste facility that will process nearly 400,000 tonnes of waste annually to generate electricity.
Will the Minister join me in welcoming this investment in renewable energy, and outline how the Government are supporting energy-from-waste facilities across the country?
I thank my hon. Friend, and I am delighted to join her in welcoming this new investment, which will be a huge asset to her community as well as having positive national implications. Energy from waste with combined heat and power is supported through pot 1 of the contracts for difference scheme—our auction system. We expect to announce the results of the latest round in early September, and I hope the House will watch that announcement with great interest.
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Q3
Direct Answer
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The question addresses the role of a tariff support mechanism to encourage short-term private investment in deep geothermal energy.
What assessment has the Minister made of the role of a tariff support mechanism to encourage short-term private sector investment in deep geothermal to support levelling up?
There is no greater champion than—or anyone in this House with half the knowledge of this, as far as I can tell—my hon. Friend in supporting the potential of deep geothermal. When the Prime Minister responded to his report, I know he thanked my hon. Friend for all the work that went into it. I can confirm that geothermal technologies that generate electricity are eligible for the contracts for difference scheme. We are also supporting and encouraging the development of geothermal heating projects through the green heat network fund, which supports the development of low-carbon heat networks.
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Q4
Partial Answer
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Businesses are ready to invest £15 billion in decarbonisation projects but lack approval due to the eight track 1 carbon capture and storage project selection process.
Private sector businesses in the Humber are ready and willing to invest £15 billion in carbon capture, storage and decarbonisation projects. However, this is being put at risk because, of the eight track 1 carbon capture and storage projects selected, not a single project was approved for the Humber. When will these businesses get the clarity they need? When the track 1 expansion process is launched, will both Humber pipelines be approved?
I thank the hon. Lady for her question, and she is right to be frustrated because of the enormous potential both to decarbonise and to unlock industrial benefits for the area. We are moving as quickly as possible. I have already said that the Viking project and the Scottish cluster are in the favoured position, and the team is moving as quickly as possible this year to provide more certainty and unlock further investment.
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Assessment & feedback
Specific timing or approval of Humber pipelines not provided
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Q5
Partial Answer
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The UK has the highest tidal range after Canada, but little use of it for energy. The question seeks public sector support to advance tidal energy.
Private sector investment in clean energy is vital, but does the Minister agree that one reason that the United Kingdom, despite having the highest tidal range on planet Earth after Canada, still uses so little of it, is a lack of public sector leadership? Areas such as Morecambe Bay could contribute to tidal energy. Will the Minister agree to meet me and other MPs around the bay, so that we can bring forward plans to get the most out of our tidal energy?
I am not an expert in the hon. Gentleman's history on this topic, but I hope it has been consistently in favour of tidal energy, and therefore different from so many other areas of policy. I share his enthusiasm for the potential of tidal energy. That is why we are the world's leading nation in the deployment of tidal range, and why tidal power is eligible for the contracts for difference scheme. Notwithstanding so many issues, I would be happy to meet the hon. Gentleman.
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Assessment & feedback
Specific plans or commitments regarding Morecambe Bay not provided
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