By acquiring the insights of energy professionals worldwide, a report from Womble Bond Dickinson highlights how financing improvements will push forward the UK’s energy transition.

The global law firm’s report was based on responses from 1,300 energy professionals across the world.

Clean energy investment is on the rise and expected to increase further in the years ahead.

Womble Bond Dickinson notes that 59% of UK respondents, those being a mix of energy players/investors, reported that their financial conditions have improved versus just 24% in 2023. Moreover, about three-quarters reported increasing their UK energy investments in 2024.

The report says that the new leading priorities for the UK market are green hydrogen, heat networks and battery storage.

That said, solar and wind continue to see and expect significant investment such as through the annual Renewables Allocation auction, which has offered £1.5 billion in investment during its sixth edition this year.

Investment has already been shifting towards renewable energy technologies while Britain’s last coal power station is being decommissioned and the North Sea oil and gas sectors are continuing to decline.

This all coincides with new government energy and climate ambitions such as those in the form of GB Energy.