Profile of the South West Low Carbon Development Market

In 2005, the renewable energy sector in the UK was estimated to be worth £290 million[1]. This figure is set to increase sharply with the introduction of new UK and EU legislation.  In fact estimates suggest that the UK market for renewable energy will reach £ 3.7 billion by 2010 and £ 7.5 billion by 2015.[2]

The environmental technology sector is important for the south west and was identified as priority sector in the Regional Economic Strategy (RES). Whilst energy efficiency is presently a larger sector than renewable energy in the UK as a whole, the south west is well placed to take particular advantage of growth in the renewable energy sector, given its natural assets.

Over three hundred businesses have already been identified as active in the renewable energy and/or energy efficiency sectors in the south west, making a significant contribution to the regional job market and economy.

[1] DTI (2005) Study of Emerging Markets in the Environmental Industries Sector

[2] UK CEED (2006) Emerging Markets in the Environmental Industries Sector

Job Creation

The Environmental Technologies sector is recognised as an important sector for the south west. A study for Regen SW by DTZ found that together  the renewables and energy efficiency sectors were directly supporting in excess of 7,200 jobs in 2008 with the expectation of further growth (though this may be slowed due to current global economic conditions).

The Cornish Renewable Energy Industry

A report by Regen SW outlines the results of a survey undertaken in February/ March 2007 in partnership with Cornwall Sustainable Energy Partnership, to assess the current capacity, future growth expectations, and support needs of renewable energy companies with a presence in Cornwall.  

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