According to a text released to journalists on May 12, just a day after the new coalition government was formed in the UK, the Conservative-Liberal Democrat administration has pledged to increase its targets for renewables.

“We are agreed that we would seek to increase the target for energy from renewable sources, subject to the advice of the climate change committee,” the new government claimed.

Tory leader David Cameron promised that the new government would be “passionate about building a green economy”, while the head of the Lib Dems, Clegg, outlined plans to ensure “fine words on the environment are finally translated into action”.

Most notably, the Conservatives have previously announced plans to abolish the Renewable Obligations (RO) scheme and replace it with the establishment of a feed in tariff (FIT) for large-scale renewables. It still remains to be seen whether these plans will be set in place under the new government as the Lib Dem position has previously been to maintain the RO, although a party environment adviser has said that “positions will be worked out jointly from now on” adding that “nothing has been decided yet”.

In a pledge yet to be clarified by the new government, the release promises “the full establishment of feed-in tariff systems in electricity – as well as the maintenance of banded ROCs”.

The document also promises a series of measures to support the development of a low carbon economy, which include:

– The establishment of a smart grid and the roll-out of smart meters

– Measures to promote a huge increase in energy from waste through anaerobic digestion

– The creation of a green investment bank

– The provision of home energy improvement paid for by the savings from lower energy bills

– Measures to encourage marine energy

– The provision of a floor price for carbon, as well as efforts to persuade the EU to move towards full auctioning of ETS permits

– Mandating a national recharging network for electric and plug-in hybrid vehicles.

Both the Tory Prime Minister David Cameron and his deputy, Lib Dem Nick Clegg, expressed support for a low carbon economy in their first press conference.