China has stepped up 3 places in the latest Renewable Energy Attractiveness league table put together by Ernst & Young.
China now holds second place jointly with Germany further to moves by the Chinese Government to support national solar PV generation.
China now has a whopping 9GW target for solar power. According to Ernst & Young, the impact of this substatial demand in the country may start to stabilize the recent global decline in solar module prices. Wind energy has also dramatically increased in China with targets of 100GW by 2020 announced earlier this year and more attractive feed in tariffs now being offered in some regions.
The US continues to hold the number 1 spot with investors encouraged by the passing of American Clean Energy and Security Act. Under the Act greenhouse gases will be reduced 83% by 2050 from, 2005 levels and utilities will be required to produce at least 12% of their power from renewables.
The Renewable Energy Attractiveness league table gives countries scores for their renewable energy markets, renewable energy infrastructure and their suitability for individual technologies.
The UK comes in at number 7 with recognition being given to the Government’s moves to put in place the new Renewable Energy Strategy and Low Carbon Transport and Industrial strategies. A hint of UK sceptism is however noted in the report with a reference to concerns about whether these strategies have the focus to deliver the required results.
