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Could green energy add $20 billion to the UK’s economy?

In light of the findings, John Cridland, the director general of the The Confederation of British Industry (CBI) called on the government to provide more backing for the UK’s green energy industries.

The burgeoning green energy market provided one-third of the UK economy last year and was valued at  £3.3 billion globally.

“Get our energy and climate change policies right, and we can add 20 billion pounds extra to our economy and knock 0.8 billion pounds off the trade gap, all within the lifetime of this Parliament,” said Cridland, director general of the Confederation of British Energy (CBI).

But he warned that unless the UK government gave the industry its full backing, it could be at risk. He called on the government to meet its carbon targets as well as improve the legislation around low-carbon.

“The so-called ‘choice’ between going green or going for growth is a false one. We are increasingly hearing that politicians are for one or the other, when in reality, with the right policies in place, green business will be a major pillar of our future growth.”

The green energy industry currently employs around one million people in the UK.