Opinion
Falling oil prices and UK renewables
Gordon Moran, writing for the European Energy Centre, explores the beneficial
effects of falling oil prices on the UK renewable industry
he substantial decline in the price of oil over the past few months has been the largest
change in a number of years. However, it is worth noting that such swings are hardly
unprecedented and it is possible that the current drop in price may be relatively brief, as
similarly large changes in the price of oil were seen seven years ago. There are concerns that
the fall in the price of oil could affect the renewables industry.
However, there is cause for optimism! An important factor which is often overlooked is that
renewable energy technologies are primarily used to generate electricity, whereas oil is primarily used as
a transportation fuel: while fluctuating oil prices may affect commerce and trade, it is largely parallel to
investments in renewables.
Governments are still promoting investments in renewables on a large scale and for microgeneration
installations in order to reduce carbon emissions and improve energy security. The possibility of cheaper
petrol at the pump may negatively affect the development and production of electric cars due to reduced
consumer demand, but it is unlikely to affect the renewable sector as a whole.
So it is unlikely that the drop in oil price will substantially affect the renewable energy industry, at least within the UK. Further to this, EU
targets for greater energy efficiency will also help to ensure that renewables continue to be invested in. So, in spite of the changing oil price,
the future looks bright for the renewable energy industry.
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To learn more about renewable energy and energy efficiency through learning courses visit www.EUenergycentre.org
Talking point
Liz MacFarlane, Zenex Solar, contemplates TV stardom and the frenetic pace of
the solar sector
he world of renewables is a
fast-paced, crazy one. There’s
no point getting too settled with
anything; and writing a business
plan feels like herding chickens.
Just as you’ve focussed on one target, the goal
changes for everyone and the horizon shifts.
I’m always amazed by how all-consuming
it all is, particularly if like me, other members
of your family are involved. And on a weekend,
I’ve just about acclimatised to discussion
that doesn’t involve the pros and cons of
various mounting kits, when low and behold
it’s Monday. Try combining that with life as a
single mum of three and….well, let’s just say, I
don’t watch much TV these days.
So, you can imagine my thoughts when
I received an invitation from a TV production
company to take part in a documentary about
Zenex Solar and studying me and my family as
we swap lives with a family at the ‘other end
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32 | www.renewableenergyinstaller.co.uk
of the scale’. Yes, there were initially feelings of
horror when I realised they didn’t mean I’d get
the life of Richard Branson. But then we all got
a bit excited….. my sons about how they might
end up with a ‘Meet The Osbournes’ fame, me
about jumping off the solar treadmill for a week,
forgetting about the mortgage and the Feed-in
Tariff and moving in to a two-bedroom terrace
in Bradford. I think my poor counterpart would
demand a return to her more basic existence
after two days delivering the needs of our UK
solar market.
So have I agreed? I might, if I had the time
to phone the production company and ask why
they weren’t interested in getting me on ‘The
Voice’ (If you’ve heard me sing, you’ll know I’m
being ironic). I might, once I’ve got Ecobuild
out of the way, if only to show others just what
an exciting, growing and ambitious industry
this is.