Renewable energy solutions can reduce greenhouse gases, avoid long term energy price increases, and provide sustainable and secure sources of energy. While the renewable energy fuel is often free, the benefits of renewable energy can only be realised though significant upfront investment. Hence renewable energy policy is focused on creating bankable projects that can repay this investment. Key to the success of policies and investments is a detailed understanding of the economic, technical and environmental aspects of each technology.
As a result, renewable energy solutions are a key part of energy policy in many countries, leading to widespread use of incentives that encourage investment in projects and the supply chain.
Successful development of renewable energy systems requires:
- A suitable renewable energy resource that is sufficient to provide an economic return.
- A route to sell to energy consumers, via power grid connection, district heating etc.
- Finance for the initial capital costs.
- Planning consent.
Understanding the costs and risks of each of these aspects is essential for projects to progress. This demands multi-disciplinary expertise to develop successful projects.
Ricardo-AEA’s team has been instrumental in the creation and development of the United Kingdom (UK) market for renewable energy. Over many years we have worked with the UK Government to support the development of these technologies and the market instruments that support their deployment. We have managed hundreds of millions of pounds of investment into these technologies, assessing markets and technologies, along with individual project performance and market position.
We were at the heart of the development of the key incentives that drive the market, assessing the costs and benefits (cost and carbon). Today, Ricardo-AEA continues to work closely with the European Commission, the UK Government and UK Regulators on the design and implementation of policies including incentives and environmental criteria. Our work includes audits of solar, wind, biomass and marine energy investments, so we know what works and can use this knowledge to ensure future projects maximise their returns.
This experience gives us unique insights into upcoming issues and likely policies and regulations and their impact on the wider markets and their impact on project level investments. From this experience, we now provide independent and unbiased market, technical and environmental advice to a range of European and international investors, drawing on our detailed insights into technical, financial and environmental performance.
Listed below are the services we provide:
- Policy analysis and evaluation
- Analysis & reporting of generation statistics
- Assessing supply chain economic impacts
- Assurance and auditing
- Review and management of R&D programmes • Development of corporate strategy and targets
- Screening for investment opportunities
- Feasibility studies
- Due diligence
- Environmental Impacts