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My Lords, here is an area for improvement: I was very disappointed that there have been no further announcements on support for tidal and wave power, even though the predictability of this technology could provide baseload and save on the cost of battery storage and hydrogen storage. So far, only 40 megawatts of this technology has been supported by the Government, equivalent to a medium-sized onshore wind farm. The Government’s contracts for difference mean that they have the opportunity to provide more support for this cutting-edge technology, which really needs support in order for it to scale up and make its contribution to renewable energy. So why are the Government leaving the profits to other countries? This is an opportunity for energy security and for British industry.
My Lords, here is an area for improvement: I was very disappointed that there have been no further announcements on support for tidal and wave power, even though the predictability of this technology could provide baseload and save on the cost of battery storage and hydrogen storage. So far, only 40 megawatts of this technology has been supported by the Government, equivalent to a medium-sized onshore wind farm. The Government’s contracts for difference mean that they have the opportunity to provide more support for this cutting-edge technology, which really needs support in order for it to scale up and make its contribution to renewable energy. So why are the Government leaving the profits to other countries? This is an opportunity for energy security and for British industry.
Again, I am afraid I do not agree with the noble Baroness. There are some exciting prospects and we are supporting early-stage tidal projects. It depends whether she means wave-powered projects or the various barrage schemes, which are extremely expensive and have a lot of environmental implications. The approach that we take through the CfD system is to pick the most effective, cheapest means of decarbonisation, because of course it all feeds back into consumer bills. If we adopted the approach she is suggesting, these technologies are relatively unproven and would add to consumer bills.