THE BEST COUNTRIES FOR NEW ENERGY
All Renewables Index
May 2012 (Ernst & Young)
“Growth in the solar sector in the past year has been faster than anticipated, so we have revised the weighting applied to each technology in calculating the [All Renewables Index ] to reflect this. We have also adjusted the proportion of offshore wind and CSP…[and expanded] to 40 countries…[The] gap between traditionally “developed” markets at the top and “emerging” markets lower down…[required calculating to one decimal place…to minimize [ties and show] relative attractiveness…
“China retains the top ranking but falls a point amid concerns that wind sector growth is stalling…A boost in installations in the solar sector is expected…The scope for increased foreign investment in the sector will likely be limited…The US continues to suffer from political wrangling, the electoral cycle and uncertainty around its long-term energy strategy. The expiry of key funding programs at the end of 2011, and the PTC for wind projects’ pending expiry at the end of this year have left its renewable energy sector in limbo…[and] produced a two-point drop…”
“Germany also drops a point but retains third-place. To cope with a high rate of new solar installations, the Government has brought forward further FIT cuts…Germany’s offshore wind sector also faces significant challenges connecting to the grid…Following expiry of a key tax break for wind projects, India also falls an index point…Italy has also fallen a point following the release of two decrees that would slash solar subsidies by 35% and those for most other renewable technologies by 15%.
“…Japan has jumped to ninth place following April’s announcement of government recommendations on the 20-year preferential prices for solar, wind, geothermal, biomass and hydropower… Spain has fallen three places…[because] of an increasingly stagnant wind market and mixed signals for solar…Mexico has climbed two places following the passing of a climate change law in April, which includes, with emissions targets, the stipulation that 24% of its electricity should come from RES by 2024. Its wind capacity passed the 1GW mark this quarter, with a further US$20b (€15b) of investment expected over the next 10 years…”
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