Renewable Energy: Finance

(asked on 25th January 2023) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask His Majesty's Government what steps they are taking to support (1) community energy, and (2) local energy development; and what funds they make available for such schemes.


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 8th February 2023

Through government funding to local authorities, including the Local Government Finance Settlement, UK-wide growth funding schemes and other grant programmes, the Government is enabling local areas to tackle net zero goals in ways that best suit their needs.

The Government also funds five Local Net Zero Hubs to support local authorities to develop net zero projects and attract commercial investment. As of January 2023, the Local Net Zero Hubs are working on a pipeline of projects with a projected total capital value of over £4billion.

Ofgem also supports community energy projects and is now welcoming applications from community interest groups, co-operative societies, and community benefit societies to the Industry Voluntary Redress Scheme.

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