Posted on: 08/05/2018
Ending subsidies for onshore wind and solar projects led to a 56% plunge in renewable energy investment in the UK during 2017, according to new figures.
But law firm TLT, which compiled the clean energy investment trends report, said Britain remained an attractive market for investment.
Maria Connolly, Head of Energy & Renewables at TLT, said: “With the end of onshore wind and solar subsidies, 2017 was a very significant year for clean energy technologies and this is reflected in the report’s findings.
“Despite the challenges, the clean energy market remained stable and began to adapt to the realities of the post-subsidies era.”
Energy storage on the up
The report highlighted said investors were now pumping cash into a more diverse range of projects.
It pointed to a 33% rise in investment in offshore wind farms and an increase in interest in alternative technologies, such as energy storage.
TLT added: “This is likely to continue into 2018, particularly as the market looks towards multi-technology projects as a way of making subsidy free developments viable.”