World’s Best Countries For Building New Energy

No big changes at the top of EY index as countries step up renewables

Plamena Tisheva, November 15, 2022 (Renewables Now)

“The US and China continue to top the EY Renewable Energy Country Attractiveness Index (RECAI 60)…[With geopolitical tensions and high gas prices causing governments around the world to accelerate their renewables programmes, the] US remained number one in the index due to the Inflation Reduction Act passed in August…China, ranked second, retains its commitment to accelerating its renewable energy transition…It is expected to install a record 156 GW of wind and solar capacity by the end of 2022, a 25% rise on 2021 installations…

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Germany moves up one spot to the third position as its Easter package commitment is expected to bolster renewables expansion. The UK has ceded its leadership in offshore wind capacity to China and moved down to fourth place but still has a large pipeline…[RECAI added a ranking] normalised with the gross domestic product (GDP), which highlights markets performing above expectations for their GDP. This normalised index is headed by Morocco, followed by Greece, Denmark, Jordan and Chile…

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[P]ower generation committed through corporate power purchase agreements (PPAs) in 2022 is poised for a rare year-on-year decline in 2022 due to the current market volatility, although fundamentals remain strong…[The] PPA index is again led by Spain, which accounts for around one-third of new PPA capacity in Europe so far this year…India has climbed to the eighth position after policy changes giving more flexibility and clarity to offtakers…” click here for more

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