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Chart of the Week

2018

The policy gap – can it be met by subsidy free renewables?

Tim Dixon Wholesale Team Leader

New renewables capacity deployment in the UK is set to slow with the imminent closure of the Renewables Obligation (RO) and Feed-in Tariff (FiT) subsidy schemes. This is against the backdrop of the Committee on Climate Change warning the fourth and fifth carbon budgets will be missed, all while “subsidy free” renewables struggle to gain traction amid difficult market conditions and a lack of investment incentives. This has stimulated calls for government to provide clarity on future renewables policy, including a route to market for established renewables (onshore wind and solar). While the RO effectively closed to new capacity from April 2017, grace periods will allow some projects to accredit until March 2019. Regarding the FiTs, government recently issued a consultation detailing its intention to close the scheme from April 2019. This leaves the Contracts for Difference (CfD) scheme as the only remaining subsidised route to market for new renewables. This ...

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