Renewable Energy: Finance
The question
To ask the Secretary of State for Energy Security and Net Zero, what steps he is taking to provide funding for renewable energy sources.
Answered by Michael Shanks
The Government has proposed a number of reforms to the next allocation round of the Contracts for Difference scheme, to ensure the auction can deliver significant renewable electricity capacity at a fair price to consumers.
Great British Energy and Great British Energy – Nuclear will together invest more than £8.3 billion over the parliament in homegrown clean power. This includes a total £180 million investment from the Government and GBE to install rooftop solar panels on schools and hospitals, and £1 billion investment for clean energy supply chains.
Through the government’s Warm Homes Plan, schemes such as the Boiler Upgrade Scheme will also continue to provide upfront grants for property owners to make the transition to low carbon heating.
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