Scottish budget earmarks £60M for low carbon innovation
- Authorities & Government
The government of Scotland has reaffirmed its commitment to renewable energy by allocating multi-million funding amount for the low carbon innovation fund in a draft budget for the next year.
The 2018-19 draft budget, announced by Scotland’s Finance Secretary Derek Mackay on December 14, 2017, proposes more than £4 billion of infrastructure investments in the next year.
This includes £60 million allocated for innovative low carbon energy infrastructure solutions, including for electric vehicles, under the Low Carbon Innovation Fund.
For the enterprise and energy budget plans, the Scottish government has set aside a total of £279.6 million.
Out of that, £188.8 million will go to the enterprise budget that funds bodies like Scottish Enterprise (SE) and Scottish Development International (SDI) which provide practical support and opportunities for businesses to grow and invest in Scotland.
The energy budget, which was allocated £80.1 million for the next year, will continue to be focused on development of a balanced energy mix, with an emphasis on developing and delivering low carbon and renewable energy projects and technology, the government said.
The government also said it will continue to drive innovation engagement across sectors and regions, reaffirming the commitment to maintain Scotland’s competitive advantage in the development and deployment of nascent wave and tidal energy technologies and offshore wind energy.
Responding to the Scottish government’s draft budget, Claire Mack, Chief Executive of Scottish Renewables, said: “The Scottish Government’s continued commitment to renewable energy is of course to be welcomed, particularly as its final Energy Strategy will be published within days.
“It is encouraging that the Government recognizes renewable energy as a key driver of Scotland’s economy.
“Of note are the funds allocated to support both low-carbon innovation and the decarbonization of the heat sector – a task which is of critical importance if we are to tackle climate change.
“We will continue to work to understand the full implications of the detail contained in the budget document for our members and look forward to working with the Scottish government as the measures outlined in the budget and upcoming energy strategy are implemented.”