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Renewables investments will fall drastically over the next three years

by January 5, 2017

written by 5^th Jan 17 10:28 am

Do we need to do more to help the planet?

A new thinktank has found that investment in windfarms will fall off a “cliff edge”over the next three years. This will put the UK’s greenhouse reduction targets at risk.

The Green Alliance found that when it looked at the government’s latest pipeline of major infrastructure plans that more than £1bn of future investment in renewable energy projects was lost in 2016.

Investment in wind, solar, biomass power and waste-to-energy projects will see a huge decline of 95 per cent between 2017 and 2020.

Although the slowdown in extra green energy investment was expected as ministers cut several subsidy schemes over the last 18 months, the extent in the decline was not made clear.

Not long after the EU Referendum the government said it wanted to cut carbon emissions by 57 per cent by 2030 on 1990 levels.

However, so far, they have not said how they will support low-carbon energy projects, such as offshore windfarms, beyond 2020.

Renewable UK, which represents the wind power industry said the government needs to figure out its vision on energy to enable investor confidence.

Emma Pinchbeck, the group’s executive director, said: “The energy sector is changing. The infrastructure pipeline shows that the private sector understands the smart money is on the renewables industry – that is why they are moving from high carbon assets to low carbon ones.”