The Conservative Party has spoken out on swirling reports that it is prepared to make major overhauls to current UK renewable energy policies if elected. The party confirmed in a statement that it does, in fact, plan to phase out the current government’s Renewable Obligation scheme if it wins the election.
The renewable energy industry has seen many of its insiders grow anxious at this announcement. Industry experts have warned against disrupting the Renewable Obligation scheme stating that any disruptions could hurt renewable energy projects currently in the works.
A spokesperson for the Conservative party confirmed that the party would look to replace the Renewable Obligation and Renewable Obligation Certificates (ROCs) with a feed-in tariff system. The spokesperson added that by allowing feed-in tariffs, the government could reduce the cost and risk of future renewable energy investments.