China has further cemented its position as the top renewable energy-friendly nation; with Australia still ranked number 12.
According to the latest Ernst & Young Renewable Energy Country Attractiveness Indices, China is now the clear renewables leader. The country spent record amounts on wind power during the recent quarter and was responsible for nearly half of all funds invested in new wind projects around the world.
The top 10 countries listed in the report are: China, USA, Germany, India, UK, Italy, France, Spain and Portugal respectively.
The US maintained its number 2 rank, but lost a point as the fallout from the global financial crisis continues to have an effect; as does uncertain medium to long term policy environment for renewable energy. The USA’s Energy Secretary Steven Chu isn’t blind to what Ernst & Young refers to as the “new world order”, yesterday saying that renewable energy in the U.S. faces a “Sputnik moment“.
Australia remains at position number 12 overall, but in relation specifically to solar PV (solar panels), it ranks number 11. In terms of wind power, Australia currently sits at number 17. The UK climbed 2 points and now sits just below Australia in solar PV, thanks to that country’s feed in tariffs escaping the axe of recently announced austerity measures.
A particularly high performing country in recent times has been Japan, rising from rank 19 to 15, a result driven by the potential of its solar cell market to increase nearly fourfold due to policies such its home solar power subsidies and feed in tariffs.
The latest report sees four significant new entrants; being South Korea, Romania, Egypt, and Mexico.
The full Ernst & Young Renewable Energy Country Attractiveness Indices can be viewed here. (PDF)
