Election 2015 & the Wyre Eco-THEP

8th May 2015

The votes have been counted and the results are in–the Conservatives have won an overwhelming majority of UK constituencies. It’s good news for some, and less good news for others, but how does it effect projects like the Wyre Eco-THEP?

If we take a look at a few of the Conservative environmental policies, we can see just how the next five years might shape up.

As with many of the parties, David Cameron and the Conservative government want to ensure the environment is protected as best as possible, including the Green Belt. Areas of Outstanding Natural Beauty, National Parks and Sites of Special Scientific Interest all look set to retain their status, and continued funding will be put into their maintenance.

On a domestic level, the new UK Government wants to encourage energy efficiency in the home, hoping to ensure that millions of houses and businesses will be insulated and have smart meters within the next five years.

However, when it comes to energy generation, the future doesn’t look as bright for renewables. Subsides for new onshore wind farms are set to be phased out, while more money is to be put into the development of North Sea oil and gas, as well as shale gas and fracking.

Some light at the end of the tunnel, though, is that the Conservative Party has pledged to provide start-up funding for promising new renewable projects, giving support to those that represent value for money. Fortunately, we know that the Wyre Eco-THEP has the potential to produce 150GW/hr every year–enough to power £50,000 homes. And with a build cost of just £200 million, rather than the billions of other similar projects, the structure is one of the most cost effective renewable energy facilities in the world.