Renewable subsidies to generate £25bn in investment

The government has today published its decision on future renewable energy subsidy levels, confirming the Lib Dems have successfully resisted demands from Chancellor George Osborne for further cuts in support for onshore wind farms.

As expected DECC have announced changes to the Renewables Obligation subsidy mechanism for the period between 2013 and 2017 that are largely in line with expectations, meaning onshore wind farms will only face a 10% cut.

Energy and Climate Change Secretary Ed Davey predicted the changes will help to generate between £20bn and £25bn over the next four years.