UK “must try harder” to attract renewable energy investment

This year will be a “make-or-break year” for attracting renewable energy investment to the UK, according to Ernst and Young’s latest renewable energy attractiveness index.

The UK was put in the category “must try harder”, along with Australia, Greece, Italy, Poland, Spain and Saudi Arabia. These countries were given this rating due to “a weak 2015 or more fundamental underlying challenges”.

It certainly wasn’t a weak 2015 that put the UK renewables sector on watch. Ernst and Young said investment in UK renewables was high last year, with an estimated $23.4 billion investment. This made the UK the fourth largest market in the world, behind China ($110.5 billion), USA ($56 billion) and Japan ($43.6 billion).

Read the full report: EY - Renewable energy country attractiveness index

More on this subject: Ofgem tells Grid: We are not “going green”

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