2019 could prove an interesting year for electric vehicles and renewables as a new breed of investor emerges, according to directors and managers at Octopus Investments.
Dan Saunders, investment director at Octopus: “Octopus expects 2019 to be significant for the deployment of electric vehicles in the UK due to helpful policy-making. The introduction of the Clean Air Zones in London in the Spring will bring the transition to zero emission vehicles to the forefront of people’s minds and encourage their uptake. And from an investment perspective, the appointment of a manager for the £400 million fund for EV charging infrastructure, announced in October’s Budget, should help catalyse the deployment of publicly available EV charging facilities.”
David Bird, senior investment manager at Octopus: “We’re looking forward to working together with Ofgem in 2019 as it finalises the changes being made to network charging through its Targeted Charging Review, and progresses the next Significant Code Review on this topic. Our focus will be on minimising as far as possible the impact this could have on investor confidence and therefore future investment into UK renewables generation.
“We hope to see government engaging closely in these processes and giving clear direction to industry and the regulator where the changes interact with the ambitious policy goals of the Smart Systems and Flexibility Plan and the Clean Growth Strategy.
“In addition, the forthcoming Energy Code Review is a welcome initiative but will be another complex process throughout which government and the regulator will need to work closely with industry to ensure they accommodate different interests whilst protecting the UK’s renewables investment proposition and potential for this crucial sector to continue to grow successfully. ”
Matt Setchell, co-head of the energy investments team at Octopus: “UK industry has had an exemplary track record in fostering and developing a cutting edge renewables industry, despite facing several regulatory and policy hurdles.
“Most crucially, it is the emergence of a new class of energy pioneer that has placed the UK at the forefront of the global race to commercialise renewables and bring wind and solar generation capacity into the mainstream.
“In this unprecedented era of technological disruption, it is these new business models that are unlocking crucial private investment and facilitating the mass roll out of renewables by building investor trust in the asset class.