Negotiating shifting goalposts
The exciting thing about renewable energy is that it’s a truly dynamic market operating at a range of scales and covering many forms of technology. However, as Bidwells reports here, the downside is that the regulatory environment is constantly evolving and whilst this can create new development opportunities, it can also cause market uncertainty and dampen investor confidence.
The UK government has set challenging targets to raise the proportion of energy generated by renewables – 15% by 2020 (Holyrood’s stance is even more ambitious) and, to achieve this, a number of support schemes has been introduced. The Renewables Obligation (ROC) has, since 2002, fuelled the expansion of large-scale developments, not least on-shore wind. More recently, the Feed in Tariff (FIT) introduced in April 2010 has led to a surge of interest in small-scale (