The UK has fallen out of the top ten in Ernst & Young’s Renewable Energy Country Attractiveness Index (RECAI) for the first time in the ranking’s history with the advisory firm alleging that the government has sentenced the renewables industry to “death by a thousand cuts”.
Newly re-appointed shadow foreign secretary Hilary Benn has come out in support of the solar industry in the face of sweeping subsidy cuts as the party readies itself for tomorrow’s energy and climate change oral and topical question session.
The Committee on Climate Change has warned that the current package of renewables subsidy cuts proposed by the government pose “major risks” to encouraging investment in low-carbon energy in the long term.
Solar developer Conergy has extended its bank guarantee facility with Tennenbaum Capital to US$75 million (£48.8 million) using funding from Goldman Sachs BDC in order to power an expansion of its solar business.
Analysis conducted by the Renewable Energy Association has claimed that government proposals to cut the feed-in tariff by up to 87% could end up costing the UK almost £100 million in lost revenue and welfare payments.
Former Energy and Climate Change secretary and Liberal Democrat MP Ed Davey has landed three renewable energy advisory roles four months after his defeat in the general election.
Governmental cuts to renewable energy does not create innovation in the sector according to Lord Deben, as the Committee on Climate Change (CCC) chairman also took aim at the lack of transparency behind recent environmental policy decisions.
Peter Bennett, editor of Solar Power Portal, and sister publications Next Energy News and Solar Business Focus UK, is to step down from his role today.
National Grid chief executive Steve Holliday has said that government cuts to renewable energy subsidies will not disrupt the UK’s shift away from centralised power towards distributed generation.
