3 Reasons Why Renewables Don't Need Brexit
The vote couldn't have been closer, 51.9% to 48.1% on the UK to leave the EU. From that day we've had 2 failed deals, 2 prime ministers and 3+ years of the UK scratching its head wondering, what on earth is going on? That leads us to now. As of now we are 2 weeks
away from the next general election. Parties wanting out, parties wanting to stay, making everyone's vote count more than ever.
Baring all this in mind leaving the EU could have many negative effects in the renewable industry, and here are 3 reasons to why.
1. European Markets - When you think of the European electricity market you instantly think of solar panels, air source heat pumps and battery storage, but what if I were to tell you leaving the EU will completely shatter the interconnection between the UK and European markets. Not only that but leaving will sabotage net imports, something that will massively impact the renewable energy industry. The power supply is secure as long as the UK decides to remain, allowing the strong interconnection between us and the European Market.
2. Environmental Measures - The relationship between the UK and the EU allows standards to remain high when products, such as solar panels, are traded. The consistency and high standard of the environmental measures has been the best it ever has been over the past few years, remaining in the EU might be vital for this to continue. Otherwise, the standard of trading renewable energy products will deteriorate.
3. Northern Ireland - Just think about it, imagine two distinct countries living side by side, but living with completely different laws. This just makes leaving the EU confusing for their citizens, don't you think? When considering the renewable energy aspect of this point, the main thing is to consider is the dependency on cross-border electricity trading. Are they just going to throw that away? I think not.
Their dependency on cross-border electricity trading is just too high for it all to just be over, with it being both secure and low costing.
Overall, Brexit is definitely harmful for the renewable energy sector. As I mentioned before the general election is in 2 weeks and you can have your say, you can vote for the correct political party that will stop Brexit and give the renewable energy industry a chance to grow and become better than it ever has been before.
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Author - Matthew McKone 28/11/2019