Optimism in the cleantech sector has doubled in the last eight months, according to a survey released today by Ernst & Young. The analysts found 37% felt optimistic the renewable energy and efficiency sector would deliver economic growth in the UK in the next year, compared to 14% in April.
In contrast, the number of people who doubt whether the right framework will be put in place to attract capital to UK cleantech over the next year rose to two thirds (60%).
The quarterly survey of 600 UK-based stakeholders including government figures, entrepreneurs and financiers suggests confidence is waning in the Coalition’s plans for energy policy.
Steven Lang, Ernst & Young’s Head of Sustainability and cleantech Services in the UK & Ireland, said: “The findings reflect the resilience and attractive long term fundamentals of the cleantech sector.Despite increasingly worrying financial and economic conditions, and a year of policy uncertainty and change, medium to long term optimism remains relatively strong.”
Mr Lang added that there is a call for “more urgency and clarity over policy”.
The Renewable Energy Association said the findings were spot on. Gaynor Hartnell, chief executiveat the green body said: “There is a lack of confidence in the Government’s commitment and implementation of support measures. The message to government is clear: The cleantech sector is ready to contribute to UK growth, but the markets need regulatory stability.”