With the referendum of 23 June the majority of British voters chose to leave the European Union. The immediate consequences were the fall of the sterling, the resignation of the Prime Minister and chaos in all political parties. No one was prepared for this outcome and the Leave campaign did not have a plan on how to divorce from the EU. It is now up to the new government to formulate and negotiate proposals with the other 27 European countries. When exactly will the UK leave the EU (if it will at all)? What the new relationship will be like? Which regulations will remain in place and which ones will change? As everyone navigates through the unknown, these are 5 areas the solar industry should watch.
Energy priorities of the new government. In the new government led by Theresa May, energy and climate change have been taken away from the department for the environment and ascribed to the department for business and industrial strategy. “It is a great shame that a department directly focused on the critical issues of energy and climate change is to close, but a joined up business, industrial strategy and energy approach could provide huge opportunities for solar in the UK,” commented Paul Barwell, CEO of the Solar Trade Association. […]
Investor confidence. An independent report commissioned by the National Grid found that leaving the EU would cost the UK up to GBP500 million per year in the 2020s, due to the uncertainty over energy and climate investments. Solar was already hit by the cut of incentives last year. Now at least other two factors will impact market confidence. The first is when Brexit will happen. The second is the possible shift on climate policies. The parliamentary committee on Energy and Climate Change launched an inquiry on both areas…
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