Department for Energy Security and Net Zero written question – answered at on 30 April 2024.
Selaine Saxby
Conservative, North Devon
To ask the Secretary of State for Energy Security and Net Zero, how much (a) private sector investment and (b) public sector funding there has been for (i) onshore wind, (ii) offshore wind and (iii) solar power in each financial year since 2009-10.
Selaine Saxby
Conservative, North Devon
To ask the Secretary of State for Energy Security and Net Zero, what information her Department holds on the year in which the highest level of private sector investment into renewable sources of power generation was recorded.
Andrew Bowie
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Based on data from BloombergNEF, total investment into UK offshore wind, onshore wind and solar PV was £143bn over 2009-2023 (converted to real 2023 prices, nearest £bn). For these technologies, a record £19bn was in 2023, helping the renewable share of total UK electricity generation increase from 7% in 2010 to nearly 50% in 2023.
In the UK, renewables receive levy-funded support through legacy schemes (Renewables Obligation [RO] and Feed-in Tariffs [FiTs]), and our Contracts for Difference (CfD) mechanism. The OBR regularly publish estimates of levy spend for the prior financial year across the RO and CfD schemes, and Ofgem publishes estimates for FiTs, aggregated for all renewables. For the CfD scheme only, the LCCC publish data at a technology and plant level.
Yes1 person thinks so
No1 person thinks not
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