UK’s loss of top 10 status shows Government policy on renewable energy is ‘misguided’

One of Britain’s top three renewable trade organisations has described as ‘misguided’  the wave of energy policies launched by the recently elected UK government – and which have resulted in the UK dropping out of the world Top Ten investor-attractive renewable energy markets.

See Britain drops out of World Top 10 investor-attractive renewable energy markets

How Scottish Energy News broke the story
How Scottish Energy News broke the story

The deputy chief executive of Renewable UK, Maf Smith, said: “This report shows that investor confidence is being hit. For the first time the UK has fallen out of the top 10 of investor attractiveness.

“Investors are saying that Government has not set out a clear energy policy and don’t see the UK delivering de-carbonisation at lowest cost, based on actions taken so far. The biggest worry for investors is that of an investment hiatus.

“Industry is ahead of Government in the need to protect the consumer while keeping the lights on and tackling climate change. Onshore wind is already the lowest-cost low carbon option and offshore wind is ahead of target in its cost reduction efforts.

“But without long term clarity, projects will be delayed, investment will go elsewhere and consumer savings will be lost. Confidence in offshore wind and wave & tidal markets remains high though, and we hope to see Government backing these ambitious world-leading parts of the energy market.”

Maria McCaffery, Chief Executive, Renewable UKMeanwhile, Maria McCaffery, (left) Chief Executive of Renewable UK, is to stand down after 10 years in the job.

But she will remain in post until a successor is appointed – expected to be in Spring 2016.She said:

“When I took on this role, wind power met only 1% of UK electricity needs – today we’re delivering 10%, so we’re in a very different place to where we were ten years ago.  As we approach our fifth decade it seems timely for new leadership to address the next challenges for this great industry.  I have no doubt that Renewable UK will continue to build on its success in the future.”

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