UK GOVERNMENT POLICY
Government must play its part in encouraging the search for viable sources of renewable, carbon free energy. The recent establishment of the DTI Energy Technologies Institute (ETI) as a 50:50 public private partnership is a good step forward. Industrial support is already in place from
and government is committed to funds of £2m. p.a. in 2006/7 rising to £100m. p.a. from 2008/9 onwards as per the DTI ETI Prospectus (see downloads section).
The Government's four goals for energy policy (as set out in the ETI Prospectus) are to:
- Put ourselves on a path to cut CO2 emissions by some 60 per cent by about 2050, with real progress by 2020;
Lunar Energy will harness tidal power to produce energy without creating carbon emissions.
- Maintain the reliability of energy supplies;
Lunar Energy will harness tidal power to create a source of energy supply that is predictable, reliable and economic.
- Promote competitive markets in the UK and beyond, helping to raise the rate of sustainable economic activity and to improve our productivity;
Lunar Energy anticipates producing electricity at a realistically commercial rate 5.0p per KWhr. This rate has been judged practical by the independent DTI Water Power Technology Advisory Panel assessor as well as the EPRI (and set out in their summer 2007 Journal).
- Ensure that every home is adequately and affordably heated.
Lunar Energy will be in a position to play its part by ensuring a growing renewable source of energy supply at a market competitive rate (see above).
The UK government has indicated by words and a measure of financial support that it believes in a realistic, commercial future for ‘renewable’ energy companies. However there are still issues that need strong leadership from the centre. The two most critical are – the complexity of the planning process and the lack of grid connection for offshore projects. Despite these problems, which will be addressed, the combination of government policy and a strong perceived need leads the founders of Lunar Energy to believe that their LTT tidal power technology represents an attractive investment opportunity in a high growth market.