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Sustainable Business Energy
Sustainable energy is the term used to describe energy generated from clean sources and technologies. Sustainable energy includes renewable sources such as wind, hydropower, biomass fuels and solar energy, as well as non-renewable sources such as nuclear power. These types of energy can be used as a source of energy for years to come, without having a disadvantageous impact on our environment.
The importance of sustainable energy
- Environmental: Sustainable energy is derived from clean sources, which have a lower impact on the environment, as they do not emit any greenhouse gases.
- Energy Security: By opting to use sustainable energy we no longer have to depend on fossil fuels which will reduce the need for foreign oil import.
- Energy for future generations: Fossil fuels which generate the majority of our energy are rapidly depleting, however sustainable sources create an unlimited supply for future generations
Environmental Levies and Taxes
Policy: Description
Climate Change Levy (CCL): An environmental energy tax for electricity, gas and solid fuels like coal, lignite, coke and petroleum coke. It is targeted at encouraging businesses to reduce their energy consumption as well as use energy from renewable sources.
Climate Change Agreements (CCAs): Enables qualified businesses to receive up to 90% discount from the Climate Change Levy, if they meet energy efficiency or carbon saving targets.
CRC Energy Efficiency Scheme: Mandatory scheme aimed at improving energy efficiency and cutting emissions in large public and private sector organisations. In addition to reducing their emissions.
EU Emissions Trading System (EU ETS): The main objective of the scheme since it began in 2005 is to reduce industrial greenhouse gas emissions. The EU ETS works on the ‘cap and trade’ principle; so there is a cap or limit on the amount of carbon dioxide (CO2) emitted by the organisations under this scheme.
Feed-in Tariff Scheme (FITs): An environmental programme introduced by the government to encourage the uptake of small scale renewable and low carbon electricity generation technologies. Consumers who generate their own electricity either with solar panel, wind turbines, hydroelectricity, micro combined heat and power (CHP), can sell any surplus back to the suppliers.
Renewable Heat Incentive (RHI): Scheme set up by the government to encourage the uptake of renewable heat technologies amongst businesses. Businesses’ that generate and use renewable energy to heat their buildings get a financial reward from this scheme.
Renewables Obligation (RO): Main policy in place introduced by the government to support renewable electricity projects in the UK. High energy users pay around 8% in Renewables Obligations (RO) charges. It is designed to encourage licensed electricity suppliers to source a fraction of their electricity from a renewable source.