Solar grows 40% over 2010: E&Y renewable country rankings

Ernst & Young’s quarterly Renewable Energy Country Attractiveness Indices indicate that solar energy is topping agendas in major players (US, China) as well as emerging markets (Morocco).

June 1, 2011 — Ernst & Young released its latest Renewable Energy Country Attractiveness Indices, which rank global renewable energy markets by investment strategies/infrastructures. The indices are quarterly.

The US’s strong solar adoption has it in second place, behind only China, according to the report, China remains on top due to offshore wind, and an aggressive five year RFP that specs 11.3% of energy from renewable sources by 2015. In solar indices, the US takes top honors, followed by India then China.

Many top-20 countries suffered from declining incentives and capital. Japan’s nuclear crisis threw the country’s energy environment into turmoil, and it dropped three places in the rankings.

Climbing on strong solar and wind power adoption, Morocoo and Taiwan moved up in the ranks, as did India.

Solar grew 40% since May 2010, thanks to cost and production drops. It proved more stable than wind this quarter. Gil Forer, global cleantech leader at Ernst & Young, points out:”It is important to overcome the misconception that renewable energy is too expensive, as we continue to see reduction in cost due to improvements in production and supply chain efficiencies as well as in technology.”

View the report here (PDF).

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