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
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.