New government white paper to encourage renewable energy investment

A new government white paper is expected to encourage those with private wealth to take part in renewable energy investment.

On July 12th, the government unveiled its Electricity Market Reform (ERM) white paper, which outlines key measures to attract social investment in the form of renewable energy and how to create a secure mixture of energy sources, such as electricity and carbon capture.

Matthew Spencer, director of the Green Alliance, which is an environmental think tank dedicated to encourage UK political leaders to find energy solutions, welcomed the new paper.

He said: "It will de-risk investment in renewable energy significantly. It should make the UK more attractive - it's just going to take us another year before we see enough detail for investors to be able to make a full assessment."

The amount of private wealth that was invested in renewable energy across the globe increased by 32 per cent last year, a report by the United Nations recently revealed.

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