(Title Image: Institute of Welsh Affairs)
Last week, the Institute of Welsh Affairs published a new report on renewable energy (pdf), suggesting that Wales could generate 100% of its domestic energy requirements from renewables with 15 years.
The report recommends:
- Energy efficiency improvements to 870,000 homes.
- Changes to the planning system to support renewable energy and ensure all renewable energy projects have between 5-33% community ownership by 2020.
- Develop a transport decarbonisation plan and include transport as a key measure of national wellbeing.
- An additional 2.67GW of solar generating capacity, 2.55GW of onshore wind and 1.78GW of offshore wind.
- 4GW of tidal power and at least 55MW of hydroelectricity from onshore sources.
The report estimates the above measures would create around 20,000 jobs and would be worth £7.3billion to the Welsh economy. In terms of finances, the report suggests ending subsidies for fossil fuels and redirecting funding from Welsh public sector pension schemes – which are currently estimated to have invested £1billion in fossil fuels.