REA says an effective renewable energy targets will assure investors of the ongoing market opportunity in renewable technologies, facilitating stable growth, the development of domestic skills and supply chains.
The renewable technologies could become cheapest source of low carbon energy by 2030, as they are witnessing continued growth and an effective carbon price.
REA chief executive Nina Skorupska said: "People working in UK renewables simply don’t know whether the Government wants the industry to keep growing or not. There have been so many mixed signals this Parliament that it has become almost impossible for our members to plan and invest for their future. 2030 renewables targets for Member States will give businesses the certainty they need.
"If this doesn’t happen, it will be up to the UK Government to set out its own vision for renewables in the 2020s and beyond. As renewables businesses are usually smaller and younger than fossil fuel and nuclear companies, a ‘technology neutral’ framework will leave them at a disadvantage.
"With clear market signals though, renewables will be the cheapest source of low carbon energy, without the need for subsidy, well before 2030."
European Commission has proposed an EU-wide renewable energy target of at least 27%, alongside a 40% reduction in greenhouse gases and a 30% increase in energy efficiency.
This is a weaker market signal when compared to the 20% renewables target in the 2020 framework.
