Britain climbs back into global top ten list of good places for green investment after Rudd Re-set chopped renewable subsidies

Recai index of 2018 World Top 10 most renewable energy attractive countries
Recai index of 2018 World Top 10 most renewable energy attractive countries

Britain has climbed three places to seventh position in the latest world top ten survey of Renewable energy country attractiveness index  following the market’s adaptation to subsidy-free solar PV, onshore wind projects and moves to repower old wind farms.

Now in its 16th year, the bi-annual RECAI report ranks 40 countries on the attractiveness of their renewable energy investment and deployment opportunities.

Despite a large drop in renewables investment in 2017 following the ‘Rudd Re-set’, the UK has improved its position.

Between 2015 and 2017 Renewable Obligation Certificates (ROC) closed to all new generating capacity, which provided subsidies to renewable energy projects in the UK.

It was widely expected that many projects would be unable to compete in this post ROC environment but many of the new projects are beginning to compete in this new world.  

Rapid expansion of renewables sees the Netherlands climb from 15th to 9th position since the last Index was published in October 2017. Recent offers for unsubsidised offshore wind and a growing solar PV market have been strong contributors to the sector, while the government seeks to meet its 14% European Union target by 2020.

RECAI also highlights the potential that blockchain technology has to transform how renewable energy is managed and traded. Deployment of blockchain technology across the energy value chain is accelerating.

There are several applications that promise to supercharge the penetration of distributed clean energy technologies. Perhaps the most exciting one is the ability of blockchain to enable peer-to-peer trading of small volumes of renewable energy, said Ben Warren, EY Global Power & Utilities Corporate Finance Leader and RECAI editor.

1 May 2018

 

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