The UK government, led by Energy Secretary Ed Miliband, has announced a record £1.5 billion budget to boost the country's renewable energy sector, with £1.1 billion specifically earmarked for offshore wind projects. This increase aims to rectify last year's failed auction due to low bid prices and to position the UK as a leader in green technology by 2030. The funding, derived from consumer energy bills, will also support emerging technologies like floating wind farms. However, Centrica CEO Chris O'Shea warns that an over-reliance on wind energy could be risky, advocating for a diversified approach to decarbonization. Despite the budget increase, experts caution that further rounds of funding will be necessary to meet long-term targets.