Ed Davey has warned that Scottish independence could jeopardise current high levels of renewable investment in the UK.

New figures published by the Department of Energy and Climate Change (DECC) reveal that more than £29 billion of investment has been poured into the UK renewable energy market since 2010, with Scotland accounting for £13.1 billion of the total.  

However, Davey has called into question Scotland’s ability to support its current renewables market on its own. Currently, Scotland accounts for around 37% of the support offered by the Renewable Obligation scheme accounting for around £530 million annually, yet only 9% of UK electricity sales take place in Scotland.

Speaking at the All Energy Conference in Aberdeen, Davey asked: “Would an independent Scotland be able to deliver the same support to renewables on the back of a domestic electricity market that is only one tenth the size of the UK?

“At present Scottish renewables benefit from the ability to spread investment costs across the whole of the UK consumer base. As part of the British energy market, Scotland and its energy industry, as net exporters of energy, have access to a market of more than 23 million households and the integrated energy networks that deliver them.”

The new investment figures published by DECC also reveal that the UK renewable energy market has the potential to support 30,000 jobs – 30% of which would be Scottish jobs.

Davey concluded: “I believe Scottish renewables have flourished precisely because Scotland is part of the United Kingdom. Our collective energy system has underpinned the success seen to date.”