As implementation progresses and renewable-energy-based electricity generation increases, a re-orientation of incentives to promote improvements in grid quality will become increasingly necessary to accommodate a larger share of clean electricity generation. Is the regulation easily accessible and understandable to all investors? This is particularly important from an investor’s perspective since energy infrastructure is a fixed, long-lived and illiquid asset. High long-term visibility of the policy signal is particularly important for clean energy infrastructure: lower visibility increases the chances that a conventional power plant will be refurbished rather than replaced by a clean energy power plant (Blyth et al., Longer-term financial support reduces financing costs for renewable energy projects (Varadarajan et al.,