BMI View: Cuts across the board for the renewables sector under the new C onservative majority administration will mute sector growth , as investor interest cools down in line with falling government support. The broad and extensive cuts - intended to rein in costs in the sector - will limit opportunities in onshore wind power, small-scale and large scale solar power, biomass power, energy efficiency measure deployment and distributed energy solutions, and as such, we have revised down our non-hydropower growth rates significantly over our 10 -year forecast. We expect offshore wind to remain the outperformer in the market, as the one broadly deployed technology left unscathed by austerity measures.
Key Trends And Developments
In August 2015, The Forewind consortium, comprising RWE , SSE , Statkraft and Statoil cancelled its development consent application for the 2.4GW Dogger Bank Teesside C and D offshore wind projects in the North Sea, off the UK coast. Forewind made the decision to focus on its other four already-consented projects, which include the Creyke Beck A, Creyke Beck B, Teesside A and Teesside B schemes, each with a capacity of 1.2GW. The Creyke Beck A and B offshore wind farms form the 2.4GW Dogger Bank Creyke Beck project. The rights to develop Teesside C and D projects, along with the remainder of the Dogger Bank offshore wind zone, have been returned to UK-based The Crown Estate.
On July 22 2015, the Department of Energy and Climate Change announced that it would cut premium subsidies for biomass conversions and co-firing projects with immediate effect, and launch consultations on the subsidies for solar PV power below 5MW and the removal of pre-accreditation for renewables projects under the renewable obligations scheme.
On July 8 2015, the first all-Conservative Party budget in 19 years held the announcement that businesses that use electricity that is generated from renewable sources will no longer be allowed to claim a...
The United Kingdom Renewables Report researched at source contains BMI Research's assessment of the current renewables market in United Kingdom. The report also contains historical data together with forecasts to end-2018 covering electricity generation (TWh) and electricity capacity (MW).
The renewables sectors covered in the report include Wind, Solar, Geothermal, Tidal and Wave, and Biomass (See Table of Contents for exact coverage). The report also features details on government green energy agendas and funding opportunities, as well as presenting a detailed list of key renewables projects currently being planned or undertaken in United Kingdom, their capacity, the timeframe of construction and their current status.
The report discusses the various energy policies currently in force, including targets, subsidies and the relevant infrastructure developments or limitations which might impact on renewables growth, analysing the potential effects of regulatory changes in conjunction with the background macroeconomic outlook. Finally, there is a general overview of the competitive landscape in United Kingdom, together with a detailed summary of the main utilities and manufacturers present and their business operations.
BMI's United Kingdom Renewables Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with unique independent forecasts and competitive intelligence on the United Kingdom renewables industry.
- Benchmark BMI's independent renewables industry forecasts for United Kingdom to test other views - a key input for successful budgeting and planning in the renewables market.
- Target business opportunities and risks in the United Kingdom renewables sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in the country.
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering the renewables market in United Kingdom, regulatory changes, major investments and projects and significant multinational and national company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the renewables sector and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series (2010-2012) and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual renewables sector present in the country.
These in turn are broken down into:
Electricity Generation: Overall capacity (TWh), growth % change year-on-year, KWh per capita, % of Total Non-Hydropower renewables generation, % of total electricity generation.
Electricity Capacity: Overall capacity (MW), growth % change year-on-year, % of non-hydroelectric renewables capacity and % of total capacity.
These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast.
Business Environment Rankings
BMI's Renewables Business Environment Rankings provide fully comparable Risk-Reward Rankings aimed at investors in the regional renewables market.
The rankings methodology makes sophisticated use of various industry, economic and demographic data point.