In the latest Renewable Energy Attractiveness Index from Ernst & Young, the USA has lost its top rank, held since 2006, and Australia has gained a point, but remains ranked number 12.
Produced since 2003, the Country Attractiveness Indices track the relative attractiveness of 27 countries’ renewable energy markets across a selection of technologies each quarter.
In this issue, the USA has lost its top spot to China, following the failure of the US Senate to approve an energy bill that would have included a Federal Renewable Energy Standard provision.
The second quarter saw Australia improve its performance in the Index as a result of amendments to renewable energy legislation and the committing of over $650 million to a renewable energy fund.
However, even with Australia’s massive renewable energy sources, the country remains outside the world’s top 10, currently at no. 12 , and lagging well behind nations such as the UK and even Italy.
The report suggests one of the issues holding Australia back on the global stage are the remaining doubts in regard to whether the new Government will establish a national market for trading carbon emissions.
Here’s how the current top ten rankings for attractiveness in renewable energy investment look:
1. China
2. US
3. Germany
4. India
5. Italy
6. UK
7. France
8. Spain
9. Canada
10. Portugal
The Ernst & Young Renewable Energy Country Attractiveness Indices publication is released quarterly.
