UK Green Energy Investment Drops By 56% After Policy Changes

  • Date: 16/01/18
  • Adam Vaughan, The Guardian

Investment in green energy fell 56% in UK in 2017 – biggest fall of any country – after ‘stop-start’ support from government

Investment in clean energy plunged further in Britain than in any other country last year because of government policy changes, new figures show.

The amount companies spent on green energy in the UK rose during the years of the coalition government (2010-2015) but has now fallen for two years in a row under the Conservatives, according to analysis by Bloomberg Energy New Finance (BNEF).

While investment in wind, solar and other renewable sources slumped by 56% to $10.3bn (£7.5bn) in the UK, worldwide spending climbed 3% to $333.5bn (£242.4bn), the second-highest level on record.

Mary Creagh, Labour MP and chair of the environmental audit committee, warned that the fall would put the UK’s climate targets at risk.

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