"The cost of renewable energy is up front slightly higher than conventional, but when you implement full infrastructure cost and the cost of environmental pollution you end up being the same or higher, " said McNeilly.
Some of the benefits of carbon reduction measures, according to the report, would be the creation of jobs in the 'green economy', increased reputation of Wales's academic and technology capacity in this field and increased revenue expenditure for public bodies to deliver front line services as their income from renewable energy sources increases.