Renewable Energy DebateFull Debate: Read Full Debate
Lord RavensdaleMain Page: Lord Ravensdale (Crossbench - Excepted Hereditary)
(5 months, 2 weeks ago)Lords Chamber
My Lords, we welcome the recent NIC report and will consider its recommendations. The Government are committed to reaching net zero through a sustainable, diverse and resilient energy system. This will require significantly increased renewables deployment. Renewables are on track to deliver the majority of electricity by 2030, having reached nearly 50% in the first quarter of this year. The energy White Paper will set out plans to further accelerate renewables deployment.
The noble Lord will understand that the spending review is of course a matter for the Treasury and that I cannot comment ahead of its decisions. However, we are prioritising investment in the renewables sector. We are accelerating new capacity through the contracts for difference scheme, which gives us certainty to drive private sector investment and has been very successful in driving down costs.