Philip Wolfe, head of the REA, said: "We hear a lot about the cost of renewables, and not enough about the upsides.
"This report shows how investment in sustainable energy leads to huge and increasing savings for the UK economy through avoided fossil fuel imports."
At the same time a leading lobby group for the North Sea oil and gas industry is attempting to get chancellor Alistair Darling to introduce tax concessions.
Failure to do so will result in the loss of 50,000 jobs over the next two years, according to Oil and Gas UK.
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