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Renewables investments in UK go down 17% in 2012

(SeeNews) - Apr 17, 2013 – Clean energy investments in the UK fell by 17% on the year to USD 8.3 billion (EUR 6.3bn) in 2012 as a result of uncertain political environment, a report by The Pew Charitable Trusts said.

The country came seventh in Pew's G-20 green spending rankings.

Currently, policy in the UK is changing quickly. The government is carrying out electricity market reforms and is considering a new decarbonisation target for the power sector.

Despite the uncertainties, the UK is still one of the top ten countries in terms green investments in all categories and capacity growth. Investments in wind power reached USD 3.1 billion last year and those in the solar sector amounted to USD 3.5 billion.

Overall, clean capacity of 4.2 GW was installed in the UK in 2012, of which 2.6 GW was of wind and 800 MW of solar. The country reached a cumulative renewables capacity of 15.3 GW last year, with 8.7 GW of wind, 3.9 GW of biomass power and 2.1 GW of solar capacity.

Globally, clean energy investments in 2012 fell by 11% to USD 269 billion, Pew said. The newly installed capacity reached 88 GW.

(USD 1.0 = EUR 0.76)

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