Bloomberg New Energy Finance has revealed that investment in renewable energy production in the UK has dropped dramatically for the second consecutive year.
Responding to the news, ClientEarth energy lawyer Sam Bright said: “We are at a crucial juncture for the planet and one of the key ways to address carbon emissions is by producing electricity in the cleanest way we can. The government needs to pull out all the stops to make this happen.
“The question of cost parity is becoming less and less relevant. Studies increasingly show that renewables can beat fossil fuels on their economics. The practical arguments against renewables are also dissolving as storage technology develops fast. But investors desperately need consistent political signals from the government to incentivise investment in this rapidly growing market.
“The UK Government must improve the legal framework for renewables and cut its support for fossil fuels without delay.”