There are calls for a 'Green Bond' to be launched which would allow the public to invest in the growing renewable energy sector.

The proposals have been outlined as part of Scottish Renewables' blueprint for the next UK Government ahead of the 2015 General Election.

Niall Stuart, Chief Executive of Scottish Renewables, explained: "The UK needs to invest tens of billions of pounds in the energy sector over coming years – firstly just to keep the lights on, and secondly to continue the move away from fossil fuels to cleaner sources of energy.

"New power generation, transmission lines and renewable heat projects all require big capital investment up front, but could offer savers a decent return on their money over the life of the project, certainly beating the record low interest rates on savings accounts today.


"There are already some specialist investment funds available on the stock market and to big investors, and they show that the model works. But it's time to give every saver in Britain the opportunity to invest in and to benefit from the continued growth of the green energy sector.

"Creation of a 'Green Bond' would make it easy for people to participate, and also reduce the levels of cash that the country would have to seek from overseas funds to invest in our infrastructure. It would also be a great way to widen engagement with this new industry as government seeks to increase levels of community ownership and investment."

If the scheme was to go ahead, it has been suggested that the Edinburgh-based Green Investment Bank would oversee it.

The manifesto, called 'Building Britain's Renewable Future', also addresses a case for the government to continue supporting the renewables energy sector, and sets out the industry's priorities during the next UK Parliament.

These include:

• Commitment to a continued focus on reducing climate change emissions from the energy sector

• Greater focus on renewable heat and renewable transport

• Greater investment in energy storage

• Grid connections for Scotland's islands

• A triennial energy summit between the UK and its devolved administrations.

The full manifesto can be read via the Scottish Renewables' website.

(JP/CD)