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Britain Drops in the Green Energy League Table

07 Nov 13:00 by Steve Walia

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Once a leader in the renewable energy space, the UK is now languishing at its lowest position to date on a global league table of the most attractive countries for green energy investment. The slump has come after the EU referendum result and Theresa May's subsequent decision to get rid of the Department of Energy and Climate Change.

Consultants EY placed the UK in fourteenth place on the Attractiveness Index for renewable energy by country, just behind Morocco. Previously, Britain has been in the top ten.

The domestic energy industry has certainly been struggling with endless rapid changes to government energy policy in recent years. They have made it very difficult to attract private investment and made it very hard for Britain to reach its true 'golden age' of clean, affordable power.

There is still a lot of uncertainty following the Brexit result, the closure of the DECC, the approval for Hinkley Point C nuclear power point to progress and changes to subsidy regimes. However, there has been some good news too with the approval of the Hornsea 2 offshore wind power farm, which will be the world's biggest at 1.8GW.

The green energy league table is led by the USA, with China in second place, followed by India, Germany and Chile. America's top position may change, however, if Trump wins the election. The other countries now in the top ten for investment attractiveness are France, Mexico, Brazil, Canada and South Africa.

The UK's green energy industry is continuing to lobby the government to clarify its commitment to renewable energy and the creation of a truly sustainable economy to help ensure that Britain remains a green energy leader and continues to attract strong investment from the private sector.