14-05-2025
- Business
- Business News Wales
'Ambitious' Clean Energy Path Needed for Wales to Capitalise on Benefits of Renewables
Wales must pursue an 'ambitious pathway' to fully realise the benefits of renewable energy.
The call came as a major new report by RenewableUK Cymru, in collaboration with Solar Energy UK, and Marine Energy Wales, outlined a national assessment of the full economic, social and environmental value of all renewable technologies out to 2035, and a clear roadmap for realising their potential in Wales.
'Unleashing the Full Value of Welsh Renewables' was launched at the Senedd. Backed by analysis from BiGGAR Economics, the research suggests that by embracing an 'ambitious' renewables strategy, Wales could deliver: 17.9GW of installed renewable capacity
£46.9 billion in private investment, with more than £10 billion flowing to Welsh businesses.
Nearly 8,000 skilled, high-paid jobs with salaries 26% higher the Welsh average in every part of Wales.
Almost £2 billion in tax revenue to support public services, with onshore wind the highest contributor to local authorities.
£183 million in direct community benefit funds for local initiatives.
13 million tonnes of CO2 emissions saved by 2035 – the equivalent of taking almost 10 million cars off the road.
The report models three distinct economic scenarios for Wales's renewable energy future — Current Targets, Increased Ambition, and Maximising Renewables.
Director of RenewableUK Cymru Jessica Hooper said:
'The analysis makes clear that only by pursuing the most ambitious pathway can Wales fully realise the economic and societal benefits on offer for investment, job creation, community wealth-building and nature restoration. This isn't just another report — it's a call to action.
'This is an opportunity too big to ignore — or to delay. We must invest in grid infrastructure, ports, skills, and planning systems to capture this opportunity before it slips through our fingers.'
Supporting the report launch, Eluned Morgan, First Minister of Wales, said:
'Scaling up renewables is not just about hitting climate targets, it is a major economic opportunity for Wales.
'We have the natural resources, industrial capability and talent to become a world leader in renewable energy, but to seize that opportunity we must be bold. Unlocking our full renewable energy potential means powering a new era of green growth, skilled jobs and shared prosperity in every part of Wales. This report makes clear the size of the prize. With the right policies, investment and political will, Wales can lead, and we intend to.'
The report also shows how renewables align with the Well-being of Future Generations Act, supporting 86% of national well-being indicators and contributing directly to all seven goals, including a resilient, prosperous, and globally responsible Wales.
This landmark research comes at a critical time for Wales, says RenewableUK Cymru, as momentum builds around a dedicated Renewables Sector Deal.
The organisation says the report offers a robust evidence base, a clear pathway forward, and identifies the key policy levers needed to form a strategic partnership between government and industry.
It calls on decision-makers to set minimum deployment targets for all renewable technologies, which it describes as a 'vital step toward delivering the Maximising Renewables scenario and unlocking the full economic potential for Wales'.
