Affordable, reliable clean energy is critical to our economy, our national security, and to family budgets. The Government is delivering on its promise to secure a long-term, low-carbon future in all areas of electricity generation. More than £42 billion has been invested in renewables, nuclear, and Carbon Capture technology since 2010, and 2014 was a record year with more than £8 billion being invested.
It's not satisfactory that the dirtiest fossil fuel - coal - is still a major part of our power generation. The UK will be one of the first developed countries to take coal out of the equation, with the recent announcement that all coal-fired power stations where carbon emissions aren't being captured and stored will be closed by 2025. The Government will oversee the building of a new, clean energy infrastructure that is fit for the 21st century.
Government support has driven down the cost of renewable energy. Solar, for example, has seen costs fall by 80 per cent over the past 15 years, and I think it is right that subsidies should be reduced in line with falling costs. Government support should help low-carbon technologies to stand on their own two feet, rather than create dependence on public subsidies, which ultimately drive bills up for consumers. It's encouraging that 98 per cent of all solar deployment has taken place since 2010.
Renewable electricity capacity in the UK has trebled since 2010. The UK now has enough solar to power almost 2 million homes, is the most attractive market in the world for investment in offshore wind, investment has been brought forward in Hinkley Point C - the UK's first new nuclear power station in a generation.
