Replace subsidies for green energy (FITs) with a loan guarantee scheme.

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Replace subsidies for green energy (FITs) with a loan guarantee scheme.

Petition Details

Producing green energy has become more viable as cost of deployment has reduced drastically (IRENA).
Loan guarantees would enable more schemes to be built than subsidies (FITs) and could potentially negate the need for the nuclear plant at Hinkley whilst contributing towards environmental targets.

Additional Information

Government subsidies (FITs) for medium/large scale green energy schemes have been reduced.
New schemes face difficulty in raising finance because lenders are unable to analyse the risk/reward the sector represents.
Finance contributes to the 25 Giga Watts held up and awaiting deployment (DECC April 2016).
A rolling scheme of up to £5 billion could replace the need for Hinkley Point C to be built providing 3200+ MW of green energy.
Example: www.greensaturn.com/content/pages/renewablesnothinkley

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