UK's Renewable Industry Shocked by Government Plans

Wind Industry Profile of

Government ends future support for renewable power deployment in Budget until an estimated 2025 / No additional clarity as to how projects will be supported following the existing round of “Contracts-for-Difference” auctions in 2020 / Carbon price trajectory not set as expected / Lack of clarity around how future heat projects will be supported / New support for electric vehicles welcomed but does not fully address significant issues that this Budget poses to the larger renewable energy and clean tech economy

The Chancellor’s Autumn Budget on Wednesday has confirmed that no new funds will be made available for the “Levy Control Framework,” which funds new renewable electricity projects, until what is likely to be 2025. Existing auctions confirmed until 2020... ... More: Official Press Release REA

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REA, UK, carbon price, wind, solar, renewables, budget