CHINA WIND SPENDING MATCHES REST OF WORLD

China Surges Ahead in Global Renewable Race; Significant new entrants to the global market: South Korea, Romania, Egypt and Mexico
November 30, 2010 (PR Newswire)

"With China now the clear global renewables leader and new countries emerging as key contenders in the market, a new world order is apparent in the clean energy sector, according to Ernst & Young's latest Renewable Energy Country Attractiveness Indices of 30 countries.

"China's record spending on its wind industry this quarter represented nearly half of all funds invested in new wind projects around the world. Figures released for the second quarter of 2010 showed that China invested around $10bn in wind out of a global total of $20.5bn…[A]pproximately one in every two wind turbines to go live in 2010 will have been in China…"

click to enlarge

"The United States, which topped the indices between November 2006 and May 2010, is now five points behind the ascendant China. The continued repercussions of the financial crisis, low gas prices and the uncertain medium-to-long term policy environment have prompted a one point fall this quarter in the US, while China rose two points…

"This issue of the indices includes four new entrants: South Korea, Romania, Egypt, and Mexico. South Korea leads the new entrants to secure 18th position, on the back of its ambitious targets, strong incentives, and robust supply chain. Romania and Egypt both achieve a ranking of 22nd, as a result of their fast-growing wind markets. Mexico completes the new line up, ranking 25th, benefiting from challenging targets and strong wind and solar resources…"

click to enlarge

"Japan climbed three points in the index, driven by the potential for its solar cell market to grow nearly fourfold from its 2009 level to JPY487.1b (euro 4.3b) by 2020, given the Government's climate policies such as the household solar installation subsidy FITs introduced in 2009.

"The UK has climbed a point following its Government's public spending review and the publication of a National Infrastructure Plan — both of which signalled strong support for renewables and specific investment in offshore wind…India gained a point following the completion of regulations for the trading of renewable energy certificates…The Czech Republic is the only country to have fallen outside the top 30 countries, mostly due to various plans by Parliament to remove or significantly reduce solar subsidies."