United Kingdom Renewables Report - Business Monitor International - Industry Reports

United Kingdom Renewables Report

United Kingdom Renewables Report - Business Monitor International - Industry Reports
United Kingdom Renewables Report
Published Jul 23, 2016
70 pages — Published Jul 23, 2016
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Abstract:

The UK voted to leave the European Union on June -- ----. We do not expect this to have a significant impact on our ---year forecast for UK s non-hydropower renewables sector. ...The result is that we are cautious to include projects that target commissioning beyond ---- into our forecast. On March -- ----, UK Chancellor of the Exchequer George Osborne announced the budget for ---- - which entailed significant cost reduction targets for offshore wind between ---- and ----. The budget also earmarked funding for a total of -GW over this timeframe, which entails that a maximum of ---MW of offshore capacity will be supported annually. ...The y-o-y growth figure of --.- means that the sector comprised about -- of total power generation, and --.- of total non-hydropower renewables power generation. The Department of Energy and Climate Change forecast that expenditures for renewables subsidy schemes will go over the GBP-.-bn --------- spending limit allocated under the Levy Control

...Small scale solar power, as well as onshore wind power, can no longer access the Renewables Obligation Certificate scheme, should they not have access to the various grace periods set out by the government. On March -- ---- we also note that the grace period for solar power facilities with a capacity larger than -MW ended. ...On March -- ---- we also note that the grace period for solar power facilities with a capacity larger than -MW ended. As a result, all new solar power projects with a capacity over -MW will have to qualify for support under the contracts for difference scheme, alongside other renewable energy technologies such as wind and biomass. The government is also contemplating whether to close the Contract for Difference scheme for onshore wind - for which it expects new projects to be deployed without subsidy support. ...As a result, all new solar power projects with a capacity over -MW will have to qualify for support under the contracts for difference scheme, alongside other renewable energy technologies such as wind and biomass. The government is also contemplating whether to close the Contract for Difference scheme for onshore wind - for which it expects new projects to be deployed without subsidy support.

...BMI View: We have not made alterations to our renewables capacity forecast in the wake of Brexit, as a plethora of punitive subsidy cuts over ---- means that we already have incorporated a slowdown in the sector. As the exception, offshore wind power will drive growth over the next five years due to robust government support and a robust project pipeline. ...

  
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Document ID
2050-8182
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "United Kingdom Renewables Report" Jul 23, 2016. Alacra Store. Dec 10, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Kingdom-Renewables-Report-2026-1394>
  
APA:
Business Monitor International - Industry Reports. (2016). United Kingdom Renewables Report Jul 23, 2016. New York, NY: Alacra Store. Retrieved Dec 10, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Kingdom-Renewables-Report-2026-1394>
  
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