The US took the top spot in the Solar Index as well being ranked the most attractive nation for investing in Concentrated Solar Power (CSP).
In the latest quarterly edition of its “Renewable energy country attractiveness indices” report, Ernst & Young (London, UK) states that capacity auctions and other concession-based approaches are becoming an increasingly preferred mechanism to deploy renewables.
The United States takes first place in the company’s Solar Index, including the highest ranking for concentrating solar power (CSP), with China and India tied for second place in the Solar Index. The report also notes increasing geographical diversification of renewable deployment and the role of emerging markets including South Africa, Morocco and Chile.
“Governments are tailoring their approach to clean energy investment to their individual needs and market maturity, with several countries including France and India announcing capacity auctions at the end of 2012,” notes Ernst & Young Cleantech Leader Gil Forer.
“The clean energy landscape has become much more global in the last 12 months, with more countries developing strategic initiatives at a national level to include and increase renewable energy within their overall energy mix.”
Ernst & Young ranks 40 nations in its index. There have been few changes to the company’s All Renewables Index, with China remaining in top place, followed by Germany and the United States.
However, Japan moved into seventh place, replacing Canada, and Australia replaced Brazil for 10th place. Japan is also ranked as the fifth most-favorable nation for investing in solar PV, with a feed-in tariff that offers the highest rate of return of any such policy globally.
For Solar PV, Germany remains in the top spot, followed by the United States, with China and India tied for third place.