EU renewable energy sector in jeopardy
Europe has long been a leader in renewable energy technology, but is its renewable energy sector in jeopardy?
New research from the European Voice, a Brussels-based group of economists, would suggest that investors are nervous with a number of contributing factors to blame.
First, investors are concerned over Germany's recent decision to phase out subsidies for PV power, as well as similar decisions in Spain, Italy and Portugal.
Second, recent decisions by companies such as First Solar to close production facilities in Europe because of regulatory uncertainty have investors convinced that Europe will lose ground in the rankings to the U.S. and China.
Third, there are concerns regarding the difficulty of setting renewable energy targets beyond the existing 2020 target. In June, the Commission issued a strategy document that failed to answer the question of whether further targets will be set and member states such as Poland have resisted setting any further targets.
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