Electricity generated from renewable energy has increased by 20 per cent in the UK. The Renewable Energy Association's (REA) annual review, conducted in partnership with PwC and Innovas, shows that total electricity generation from renewables reached 64 404 GWh in 2014, up from 53 667 GWh in 2013.
"2014 has been another strong year for investment in the renewable energy sector, bringing the total investment since 2010 to £40 billion," said Ronan O'Regan, director, renewables and clean tech at PwC.
He continued: "The majority of investment during 2014 was in renewable electricity generation, attracting almost £10 billion of capital, with solar the big winner, representing £4.5 billion of investment."
However the REA has warned that the country's new government must continue to encourage investment if renewables targets are to be met.
The new government has imminent decisions in the FiT review and on extending the Renewable Heat Incentive (RHI), which only has funding allocated until April 2016. The industry needs certainty as soon as possible to ensure that growth in this vital area continues, said REA.
"Our analysis shows that where regulatory and financial support for renewable energy has been stable and sufficient, there has been considerable success, but where there has not, technologies have either stalled or gone backwards," said Chief Executive of the Renewable Energy Association, Dr Nina Skorupska. "In light of the growth rate for renewables needed for the UK to meet its 2020 targets, it is vital that the new government demonstrates the necessary leadership and ambition to enable our industry to thrive."
The UK has a target of producing 15 per cent of its energy needs from renewable sources by 2020, one of the highest targets in the EU.
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