LAWMAKERS have slammed the Con-Dem government for hypocrisy on green investment as solar-energy giants announce they will seek a judicial review of a government backtrack on renewable energy.

In a report published today, the House of Commons energy and climate-change committee warns of a “mismatch” between the government’s pledges to support new technology and a chronic lack of investment to underpin it.

And solar investors TGC Renewables, Solarcentury, Orta Solar Farms and Lark E have savaged energy secretary Ed Davey for pulling the plug on investment in renewable energy, pledging to see him in court.

The previous Labour government set up a “renewables obligation” in 2002, pledging funds with the aim of settling investors’ fears about developing new technology.

But the Con-Dem government now intends to axe funds offered to larger companies next April, two years earlier than planned.

TGC Renewables managing director Ben Cosh said: “Solar is tantalisingly close to becoming subsidy-free, meaning cheaper bills for consumers, and we want to achieve this goal as quickly as possible.

“All we need from Ed Davey is stable and lawful policy, but instead he has yet again pulled the rug from under the industry’s feet.”

Ministers have continued to wax lyrical about renewable energy systems and controversial “smart meters” which allow energy companies to regularly monitor household usage and usually result in a small reduction in energy consumption and bills.

But the Low Carbon Innovation Co-ordination Group, the public-private body which co-ordinates green investment, is failing to deliver the goods, the energy and climate change committee report said. In tough conclusions, they damned the group as poorly resourced, badly governed, not transparent and understaffed.

Tory MP Tim Yeo, who chairs the committee, said: “Entrepreneurs developing exciting new sustainable technologies sometimes need help to bridge the ‘valley of death’ and bring products to market.

“We were surprised and disappointed to hear businesses and academic partners, among others, express continual frustration at the lack of consultation surrounding the government’s new low carbon strategy.”