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1713234

registered interest
date	23/04/2024
answering body	Department for Energy Security and Net Zero
answering dept id	215
answering dept short name	Energy Security and Net Zero
answering dept sort name	Energy Security and Net Zero
hansard heading	Renewable Energy: Investment
house id	1
legislature	25259 pref label House of Commons
question text	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.
tabling member constituency	North Devon
tabling member printed	Selaine Saxby
uin	23334
answer	answer is ministerial correction date of answer 30/04/2024 answer text <p>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.</p><p> </p><p>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.</p> answering member constituency West Aberdeenshire and Kincardine answering member printed Andrew Bowie grouped question UIN 23333 question first answered 30/04/2024 09:23:01 answering member 4601 label Biography information for Andrew Bowie
tabling member	4863 label Biography information for Selaine Saxby

1694466

registered interest
date	07/03/2024
answering body	Department for Energy Security and Net Zero
answering dept id	215
answering dept short name	Energy Security and Net Zero
answering dept sort name	Energy Security and Net Zero
hansard heading	Renewable Energy: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Energy Security and Net Zero, with reference to report entitled Financing the Future: Energy, published by the UK Sustainable Investment and Finance Association on 26 February 2024, what steps her Department plans to take to encourage private capital investment in green energy.
tabling member constituency	East Worthing and Shoreham
tabling member printed	Tim Loughton
uin	17483
answer	answer is ministerial correction date of answer 12/03/2024 answer text <p>The UK saw £60bn of investment in 2023, meaning that since 2010 the UK has seen £300bn of public and private investment into low carbon sectors. The Powering Up Britain Plan, backed by substantial government funding, seeks to attract private capital for green energy.</p><p> </p><p>We've bolstered investor confidence with announcements on the UK Carbon Capture Usage and Storage (CCUS) sector and the Hydrogen Strategy. In December 2023, we unveiled Europe's largest simultaneous commercial-scale green hydrogen projects, supporting 125MW in the inaugural Hydrogen Allocation Round (HAR1).</p><p> </p><p>We’ve allocated over £1 billion for the flagship Contracts for Difference (CfD) scheme's Allocation Round 6 (AR6) and £1.1 billion to the Green Industries Growth Accelerator, to support the expansion of domestic green manufacturing capacity and strengthen clean energy supply chains.</p> answering member constituency Beverley and Holderness answering member printed Graham Stuart question first answered 12/03/2024 13:16:39 answering member 1482 label Biography information for Graham Stuart
tabling member	114 label Biography information for Tim Loughton

1693755

registered interest
date	05/03/2024
answering body	Department for Energy Security and Net Zero
answering dept id	215
answering dept short name	Energy Security and Net Zero
answering dept sort name	Energy Security and Net Zero
hansard heading	Renewable Energy: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Energy Security and Net Zero, what assessment her Department has made of the potential impact of her net zero policies on trends in the level of investment in renewable energy.
tabling member constituency	Angus
tabling member printed	Dave Doogan
uin	17159
answer	answer is ministerial correction date of answer 11/03/2024 answer text <p>Government continues to support investment in renewables, as demonstrated in the Spring Budget announcement, where it confirmed the biggest ever budget for the Contracts for Difference Allocation Round 6, at £1,025 million.</p><p> </p><p>Additionally, Government announced an increase of up to £120 million to the £960 million Green Industry Growth Accelerator fund, further supporting the development of Wind and Networks manufacturing supply chains across the UK. These announcements reinforce efforts to reduce network connection times and make investment tax measures permanent. Since 2010, renewables support has attracted around £120 billion of new investment, alongside around £80 billion of UK levy-funded support.</p> answering member constituency West Aberdeenshire and Kincardine answering member printed Andrew Bowie question first answered 11/03/2024 09:57:23 answering member 4601 label Biography information for Andrew Bowie
tabling member	4736 label Biography information for Dave Doogan

1685622

registered interest
date	29/01/2024
answering body	Department for Energy Security and Net Zero
answering dept id	215
answering dept short name	Energy Security and Net Zero
answering dept sort name	Energy Security and Net Zero
hansard heading	Renewable Energy: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Energy Security and Net Zero, what steps she is taking to encourage green investment in the production of renewable liquid gases for decarbonising off-grid (a) homes and (b) businesses unsuitable for a heat pump.
tabling member constituency	Ynys Môn
tabling member printed	Virginia Crosbie
uin	11894
answer	answer is ministerial correction date of answer 01/02/2024 answer text <p>On 5 September 2023, during Parliamentary debates on the Energy Act, the Government committed to exploring the potential of renewable liquid fuels – including renewable liquid gases - for heat by issuing a consultation within 12 months.</p><p> </p><p>The Government has also taken powers in the Energy Act to impose obligations on heating fuel suppliers to increase the supply of renewable liquid heating fuels, should that be necessary.</p> answering member constituency Derby North answering member printed Amanda Solloway question first answered 01/02/2024 07:14:18 answering member 4372 label Biography information for Amanda Solloway
tabling member	4859 label Biography information for Virginia Crosbie

1648299

registered interest
date	27/06/2023
answering body	Department for Energy Security and Net Zero
answering dept id	215
answering dept short name	Energy Security and Net Zero
answering dept sort name	Energy Security and Net Zero
hansard heading	Renewable Energy: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Energy Security and Net Zero, what criteria his Department uses to determine investment in emerging energy technologies.
tabling member constituency	Liverpool, Walton
tabling member printed	Dan Carden
uin	191484
answer	answer is ministerial correction date of answer 05/07/2023 answer text <p>The Government set out the criteria it uses to prioritise investment in emerging net zero technologies in the UK Net Zero Research and Innovation Framework Delivery Plan. These are: i) Maximising UK strategic advantage and developing UK energy security – focusing on the highest potential for UK business opportunities and jobs; ii) Expected contributions to delivering the UK’s carbon budgets and major decarbonisation; iii) Retaining optionality of different net zero pathways – investing in a portfolio of solutions.</p> answering member constituency Beverley and Holderness answering member printed Graham Stuart question first answered 05/07/2023 11:04:38 answering member 1482 label Biography information for Graham Stuart
tabling member	4651 label Biography information for Dan Carden

1484314

registered interest
date	28/06/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Renewable Energy: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to increase investment in the development of (a) onshore and offshore wind, (b) tidal energy, (c) solar power, (d) hydrogen power and (e) other renewable energy sources.
tabling member constituency	Ynys Môn
tabling member printed	Virginia Crosbie
uin	26922
answer	answer is ministerial correction date of answer 04/07/2022 answer text <p>The Contracts for Difference (CfD) scheme is the Government’s main mechanism for supporting renewable generation in Great Britain. The latest round is the largest yet and will support technologies including offshore wind, onshore wind, solar, tidal and floating offshore wind. The next CfD round will be held in March 2023, and future rounds will run annually, rather than every two years, helping to drive deployment of renewable power.</p><p> </p><p>The Government’s policy levers for hydrogen, including the Hydrogen Business Model, are designed to unlock significant private sector investment to reach the 10GW by 2030 production ambition.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 04/07/2022 15:17:36 answering member 1526 label Biography information for Greg Hands
tabling member	4859 label Biography information for Virginia Crosbie

1453714

registered interest
date	23/03/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Renewable Energy: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to increase investment in (a) solar, (b) nuclear, and (c) hydrogen power, as well as offshore and onshore wind capacity.
tabling member constituency	Preston
tabling member printed	Sir Mark Hendrick
uin	145818
answer	answer is ministerial correction date of answer 01/04/2022 answer text <p>The Contracts for Difference (CfD) scheme is the Government’s flagship scheme for supporting new renewable electricity generation projects in Great Britain. The latest round is the largest yet and aims to secure more capacity than the three previous rounds combined by supporting an expanded number of renewable technologies including onshore and offshore wind and solar. In February the Government also announced that the next CfD allocation round will be brought forward to March 2023, and future rounds will run annually, rather than every two years, thereafter. These steps will help drive forward the deployment of renewable power.</p><p> </p><p>Government support for investment in nuclear energy includes:</p><ul><li>Progressing the Nuclear Energy (Financing) Bill through Parliament. The Bill will enable use of the Regulated Asset Base (RAB) model for nuclear projects, which will help to facilitate private sector investment.</li><li>Announcing a £100m Combined Option agreement with EDF to support the development of Sizewell C, to help bring it to maturity and attract investment.</li><li>Committing up to £1.7bn of funding to support a new gigawatt-scale nuclear project reaching Final Investment Decision this Parliament.</li><li>Investing up to £210m in support of the Rolls-Royce Small Modular Reactor, as part of wider funding for Advanced Nuclear Technologies. Funding for this project will be matched by private investment.</li><li>A new £120m Future Nuclear Enabling Fund to provide targeted support to address barriers to entry for future nuclear.</li><li>It is also the Government’s intention to consult on classifying nuclear energy as a green investment under the UK Green Taxonomy, which is designed to drive investment into key low carbon companies and industries, as part of the green industrial revolution.</li></ul><p> </p><p>On hydrogen power, the Government is exploring the need and case for further market intervention to support low carbon capacity deployment and ensure unabated gas capacity has clear decarbonisation pathways. In summer 2022, the Government intends to publish a consultation expanding existing Decarbonisation Readiness requirements for new build and refurbishing combustion power plants to demonstrate they have viable decarbonisation plan by converting to either hydrogen generation or Carbon Capture, Utilisation and Storage (CCUS) technology.</p><p> </p><p> </p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 01/04/2022 12:20:46 answering member 1526 label Biography information for Greg Hands
tabling member	473 label Biography information for Sir Mark Hendrick

1453220

registered interest
date	22/03/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Renewable Energy: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the effect of trends in the level of investment in renewables on reducing household energy bills.
tabling member constituency	Stockton South
tabling member printed	Matt Vickers
uin	145070
answer	answer is ministerial correction date of answer 30/03/2022 answer text <p>The Government has seen the cost of renewable technologies reduce, most notably offshore wind. As more renewable energy is added to the system, household electricity bills will be less affected by fluctuations in volatile global gas prices.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 30/03/2022 14:02:57 answering member 1526 label Biography information for Greg Hands
tabling member	4844 label Biography information for Matt Vickers

1179429

registered interest
date	21/02/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Renewable Energy: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department has taken to encourage private investment in the renewable energy sector.
tabling member constituency	Solihull
tabling member printed	Julian Knight
uin	18789
answer	answer is ministerial correction date of answer 02/03/2020 answer text <p>The Department has a number of policies to encourage private investment in the renewable energy sector.</p><p>For example, the Contracts for Difference Scheme is the main mechanism of support for new renewable electricity deployment. The scheme provides long-term price stabilisation for new projects, making projects that have high upfront costs attractive to investors, while protecting consumers when electricity prices are high. Our support through the Contracts for Difference and other legacy schemes has helped to successfully unlock £94bn[1] of private sector investment in clean energy since 2010 and has driven down the cost of renewables. For example, offshore wind costs have fallen 65% since 2015.</p><p>In March 2019, the Government published the Offshore Wind Sector Deal, which aims to work in partnership with the industry to boost the UK supply chain, develop new technologies and increase the UK’s export potential. As part of this Sector Deal, an Offshore Wind Growth Partnership was launched in June 2019, in which the private sector committed £100m towards a 10-year programme to support the growth of UK businesses looking to capitalise on the opportunities offered by the growth in offshore wind around the world.</p><p>[1] https://about.bnef.com/clean-energy-investment/</p> answering member constituency Spelthorne answering member printed Kwasi Kwarteng question first answered 02/03/2020 16:35:36 answering member 4134 label Biography information for Kwasi Kwarteng
tabling member	4410 label Biography information for Julian Knight

1135843

registered interest
date	01/07/2019
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Renewable Energy: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential merits of enabling investors to realise returns while solar power plants, onshore and offshore wind farms and hydroelectric power plants are being built to ensure that projects go ahead.
tabling member constituency	Newcastle-under-Lyme
tabling member printed	Paul Farrelly
uin	271403
answer	answer is ministerial correction date of answer 09/07/2019 answer text <p>The existing renewable support schemes are designed so that payment is based on generation, and ensures that renewable assets are attractive to investors. Over 42GW of new renewables have been constructed through the Contracts for Difference, Renewables Obligation and Feed in Tariffs Schemes (to 2018).</p> answering member constituency Kingswood answering member printed Chris Skidmore question first answered 09/07/2019 16:05:50 answering member 4021 label Biography information for Chris Skidmore
tabling member	1436 label Biography information for Paul Farrelly