Government U-turn on renewables shows gas, oil and nuclear are still favourites

Now is not the time to pull the plug on supporting renewable energy. A few years of vital subsidies cannot make up for a century of support for fossil fuels.

The entire global energy system is undergoing a clean revolution. The old certainties of centralised power and fossil fuels are falling apart before our eyes. In Paris last week world leaders set legally binding targets to decarbonise their economies in order to keep temperature rises at a maximum of 2C. The future is almost here.

It's a future that is necessary and one that presents the economic opportunity of the century. Bloomberg NEFs New Energy Outlook for 2015 estimates that renewables alone will see more than $8tn of investment in the coming years with $3.7tn in solar alone.