Investment in green energy fell 56% in UK in 2017 – biggest fall of any country – after ‘stop-start’ support from government

Investment in clean energy plunged further in Britain than in any other country last year because of government policy changes, new figures show.

The amount companies spent on green energy in the UK rose during the years of the coalition government (2010-2015) but has now fallen for two years in a row under the Conservatives, according to analysis by Bloomberg New Energy Finance (BNEF).

While investment in wind, solar and other renewable sources slumped by 56% to $10.3bn (£7.5bn) in the UK, worldwide spending climbed 3% to $333.5bn (£242.4bn), the second-highest level on record, according to The Guardian.

Worldwide, solar took the lion’s share of spending on renewables, at $160.8bn, followed by windfarms.

Jon Moore, chief executive of BNEF, said: “The 2017 total is all the more remarkable when you consider that capital costs for the leading technology – solar – continue to fall sharply.”