Investment in UK renewable energy sector almost £8bn in 2013

Department of Energy and Climate Change report also shows that renewables now account for 15% of the country's electricity
A boat passes between wind turbines at the London Array project, the world's largest windfarm
A boat passes between wind turbines at the London Array, the world's largest windfarm. Photograph: Bloomberg/Getty Images

Almost £8bn was invested in renewable energy in the UK last year, according to a report by the Department of Energy and Climate Change (DECC).

The report showed that £45bn has been invested in the UK's power generation and networks since 2010, supporting thousands of jobs, with an average of £7bn a year in renewables, which now produce 15% of the country's electricity.

As the report was published, the energy secretary, Ed Davey, set out details of the first £10m investment in a pilot scheme under which businesses and organisations will compete for funding for projects that reduce electricity demand.

The electricity demand reduction auction, which has a £20m budget, will provide funding for projects that would not otherwise have happened, and will save businesses money on their bills, cut carbon emissions and reduce demand on the grid.

Around 300 organisations including hospitals, airports and supermarket chains have expressed an interest in the pilot.


The government is testing whether schemes to deliver electricity savings at peak times, such as replacing old light bulbs with LEDs, could get payments under the "capacity market", which aims to ensure the country has enough power to meet demand.

