In the run-up to this year’s budget Rachel Nutt, Head of Renewable & Sustainable Energy at top 15 accountancy firm MHA MacIntyre Hudson, comments that the Chancellor would be missing a trick not to propose tax breaks for bio fuels or a Renewable Heat Incentive scheme (RHI).
“The whole of the renewables industry is hoping that the Chancellor will respond in this year’s budget with either a new tariff regime or a tax incentive to provide the lifeline the sector needs to help us all strive for carbon neutrality.
“What we don’t need to see is a sticking plaster approach to boosting renewables in isolated parts of our economy. To really achieve Carbon Zero we need a budget that brings joined up thinking across all sectors. There is significant pressure to have solar and wind as our main power solution, but on a cold still winter’s night these energy sources will not be enough to heat and power our UK homes – especially when we all have electric vehicles too. Furthermore, much of the country’s housing stock is not suited to low level heat from ground or air-source solutions.
“Hopefully, the government will look again at bio fuel solutions and perhaps a further RHI scheme or an improved extension.”