UK biomass is at a “tipping point” and set to rival wind and solar power over the coming years if the trend of banks gradually loosening their purse strings continues.
Gerard Madden, chief executive of Irish developer Kedco, told BusinessGreen that banks are realising the opportunity biomass offers now that there is more certainty around government incentives for the technology.
“There’s been a lot of uncertainty in the biomass sector over the last few years and, in fairness, the UK government has looked to address it,” he said in an interview. “We’re at a tipping point in biomass. We’ve had wind, we’ve had solar. I think it’s biomass’ time.”