Green energy investments fell 56% in 2017 on the back of government policy changes ending onshore wind and solar subsidies, according to a report from law firm TLT.
The ‘Clean Energy Investment Trends 2018’ report said that despite the policy change investment interest in UK renewables remains strong as the market adapts to a post-subsidy world.
Diversification of portfolios was a growing trend last year, it added, with a 33% rise in offshore wind deals and increasing interest in alternative technologies, such as energy storage.
“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,” TLT said.
TLT head of energy and renewables Maria Connolly 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.”
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UK green investment ‘falls 56%’
By EBS