Ernst and Young’s Renewable Energy Country Attractiveness Indices, released today, claim increasing policy uncertainty in the UK could jeopardise its future position in the index.
Global Cleantech transactions leader Ben Warren commented: “Making a unpopular decision is one thing. The market adapts, and life goes on. But delayed decisions, inconsistent messaging and policy overhauls are another thing altogether.
“We talk about the impact of policy and regulation on renewable energy markets’ stability and attractiveness, but it is too often politics, not policy, in the driving seat.”
He said you only need to look at the US, UK and Germany, Australia and Poland to find boom-bust cycles, delayed investment, abandoned projects and market exits.
“With most countries facing an energy imperative of some kind – whether surging demand or decommissioning old plants – governments must create stable markets for conventional and clean energy that are free from bureaucratic obstacles and political point-scoring,” he added.