With three solar panel installation companies having gone into liquidation in the last month, institutional and private investors are increasingly wary of investing in renewable energy because of the constantly changing government policy on subsidies. Regardless of whether such subsidies are helping or hindering the growth of solar energy in this country, clarity is required to give certainty to investors and property owners alike.
However, Nandy said there was an even worst element to the solar debacle. “I have been contacted by people from across the renewable energy sector and they are telling me that these government policies are making the UK uninvestable in future,” said the Labour MP. “There are no long-term guarantees and it is not a stable environment for investors. While other countries around the world are moving forward [on low carbon energy] we are going backwards. This will damage our standing at the UN climate change talks coming up in Paris.”