Not the time for the EU to close doors to clean energy investment, says EY

5 June 2013

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Commenting on the EU’s decision to impose anti-dumping tariffs on Chinese solar panels, Ben Warren, Environmental Finance Leader at EY said:

“At a time when Governments, particularly in the EU, are struggling to justify the cost of supporting renewable energy to the tax payer, and future energy security is of utmost importance, it is almost incredulous that the EU would impose these restrictions.

“Over the past three decades, the EU has spent billions to enable renewable energy to compete with conventional generation.  Now, just as solar power is becoming directly competitive to fossil fuels, it decides to apply a tax on affordable energy.

“As our recent Renewable Country Attractiveness Indices (RECAI) showed it is competitiveness against conventional energy generation at a global level that will determine the industry’s success in the long-term. With global annual investment in clean energy peaking at $296bn last year, the EU cannot afford to close doors and isolate itself.”