The UK has been ranked the country with the fourth highest investment in renewable energy, despite a series of significant cuts to green subsidies over the past year, according to the findings of a new analysis report.
In 2015, the UK’s solar industry saw a 60% tariff decrease in a year which saw new solar, wind and hydropower sources added at the fastest rate the world has yet seen.
In total, about 147 gigawatts (GW) of capacity were added in 2015, the Renewables Global Status Report has found. China, the US, Japan, the UK and India added on the largest share of green power despite the fact that prices of fossil fuels have fallen significantly. The costs of renewables have also fallen.
The report also revealed that 2015 was the first time that emerging economies spent more than developed economies on renewable power and fuels, in a year that also saw a new peak for global spend on renewables.
John Thompson, Chief Executive at APHC commented, “We welcome the news of these statistics, however, it must be stressed that the UK’s high position on the renewables table has been achieved in spite of ever-increasing cuts to renewables subsidies. We would urge Government to ensure these are not taken any further to avoid causing further adverse impact on the UK renewables job market, and a significant dent in our positioning in dealing with the renewables agenda on the world stage.”