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London Research International

01 Feb 2011 12:02:42

UK compares well with OECD countries



New report finds that UK compares favourably with other OECD countries for renewable energy investment incentives
Report title: "Renewable electricity incentives in the OECD, China and India, 2010/11: investment and operating support programmes".

Most OECD member countries, as well as China and India, have incentive schemes to encourage renewable electricity production and investment. The latest data on such incentive schemes in the UK in comparison to other countries is, however, not readily available. Such data can provide invaluable information for investors, energy-sector professionals and policy-makers.

The new report published in late 2010 by London Research International (LRI) addresses the problem of scarcity of available comparative data and further provides much-needed international rankings of government incentive schemes. Combining key electricity market statistics and government targets with operating and investment incentives for each country, this report provides a clear outlook on the climate for renewable electricity investment in the UK and 30 other OECD countries, China and India. Using data collated in summer 2010, the LRI report is the most authoritative, up-to-date and comprehensive report available, providing the latest and most essential information on the renewable energy sector.

Key findings for selected countries (comparisons of generation compensation in both the solar PV and wind power sub-sectors):

Solar PV
(Generation compensation for solar PV building-attached 499 kW, 26 countries included in the analysis)
• The UK's position is relatively strong and it ranks 9th. It is ahead of Germany and Spain, although behind several countries with higher solar radiation levels such as Italy which ranks 1st, France 5th and Greece 6th, raising questions as to whether generation compensation levels are high enough.
• The Czech Republic tops the table with 480 Eur/MWh of generation compensation.
• Germany ranks 14th, and Spain 15th, but annual installation continues to expand rapidly in these countries and the level of incentives is not a deciding factor in determining investment levels (the German market is, for example, stable with low investor risks for incentives).
• USA (California) ranks 17th.
• Among other Eastern European countries, Slovakia ranks 4th, Poland 22nd and Hungary 23rd.
• Among Asian countries, China ranks 20th, below India in 16th place.
• Australia ranks lowest, providing little over 1/10 of the Czech Republic's level of generation compensation.

Wind power
(Generation compensation for 5.1 MW onshore wind power, 27 countries included in the analysis)
• The UK has the same ranking for wind as it does for solar power at 9th, ahead of Germany and Spain, although it is behind Italy, Switzerland and Belgium with rankings of 1st, 2nd, and 3rd respectively. The top three countries exceed 140 EUR/MWh, compared to 100 EUR/MWh in the UK.
• Germany ranks 12th and Spain 18th.
• Among other Southern European countries, Portugal ranks 24th, and Greece 16th.
• Among Asian countries, China ranks 23rd.
• Finland ranks lowest in the analysis, followed by Australia. Both provide approx. 1/3 of the top group's generation compensation.

In the USA and Canada, state or provincial-level actors are more important and innovative than federal-level actors when it comes to renewable energy development and support. California and Ontario have the most advanced regional-level systems in the USA and Canada respectively. They are, therefore, the most useful examples of generation compensation. Countries without operating incentives are not included in these above figures.

The full version of this press release, complete with data comparisons, is available to download. To purchase the report, please contact us.


About London Research International
London Research International (LRI) is an energy consultancy based in London. The company implements research projects globally, assessing risks and opportunities in renewable energy sector investment projects. The reports are produced by a number of local specialists working around the world. In addition to this report, LRI offers country profiles focusing on sector analyses of risks and opportunities. For example, two recent LRI publications cover 20 EU countries, and eight Asia Pacific countries respectively. Each report draws on LRI's specialist analysis techniques to provide quantitative assessments of investment risks and opportunities in each country covered.


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