Low carbon generation: investors are ready to invest, just provide the market
The decision by Secretary of State for Energy and Clean Growth Claire Perry to bring in a new round of Contracts for Difference auctions is to be welcomed, especially if they are opened up to less established technologies like onshore wind and solar.
But, for all the fanfare, the announcement cannot not detract from the fact that investment in renewables has been falling steadily in the UK since 2015 and is now at its lowest point in a decade. The Environmental Audit Committee’s recent report found that cash investments into renewables fell 10% in 2016 and a further 56% in 2017 – and it may well be the case that 2018 sees a further decline.