(VOVworld) – The UK's Environmental Audit Committee has released a report estimating that the country will only meet half of its target of investing 200 billion pounds in low carbon emission energy over the next decade.
The report said the government has invested 8 to 10 billion pound in developing low-carbon energy every year which means the total investment will be 100 billion pound during the next decade.
The report cited some reasons for the investment shortage including investor’ uncertainty over government policies, a drastic reform of the electricity market, and new incentives for renewables investment through new mechanisms.
The Committee suggested that in order to enhance investors’ confidence, the government needs to impose long-term initiatives on renewable energy until 2030 and confirmed that the GIB will have the power to borrow loans in 2015-2016.