As we start a new decade, the forces shaping the European renewables sector are familiar enough, but the longer-term future in each market is becoming harder to predict. State action—for example, in the form of renewables support auctions—remains key. However, the tasks facing governments and regulators are multiplying and becoming more complex, particularly as decarbonization becomes as much a matter of industrial policy as of energy market regulation.
Developments in technology are having an increasing impact on the economics of many projects. It is much less clear when, or if, potential game-changers like the mass adoption of electric vehicles or “green” hydrogen production will start to have a transformative effect.
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