Connect with us

Hi, what are you looking for?

CleanTechnica

Batteries

USA Is #1 In The World For Renewable Energy Investment Attractiveness

The United States has apparently regained #1 in EY’s Renewable Energy Country Attractiveness Index (RECAI), a biannual report that has been put out since 2003.

I know — this will blow the mind of many people who follow US politics closely. But that’s just a reminder that political chaos isn’t everything.

The United States has apparently regained #1 in EY’s Renewable Energy Country Attractiveness Index (RECAI), a biannual report that has been put out since 2003.

We’ve been covering this index for years, and China and the USA are almost always on top. Well, one of them have been #1 for several years, and the other is normally #2. India split them up just for a couple of reports in 2017, holding the #2 spot for several months while China was #1 and the USA #3. China was actually holding onto the #1 spot since May of 2017 until this month, when the USA finally became #1 again. (There’s a nifty little timeline animation at the link above, screenshot below.)

Image courtesy EY

As you may have guessed by now, the index is based on total scale, not a relative ranking. The top 20 ranking goes as follows:

  1. USA (#2 in previous report)
  2. China (#1 in previous report)
  3. France (#4 in previous report)
  4. Australia (#5 in previous report)
  5. Germany (#6 in previous report)
  6. UK (#8 in previous report)
  7. India (#3 in previous report)
  8. Denmark (#9 in previous report)
  9. Netherlands (#10 in previous report)
  10. Japan (#8 in previous report)
  11. Spain (#15 in previous report)
  12. Ireland (#18 in previous report)
  13. Chile (#13 in previous report)
  14. Israel (#22 in previous report)
  15. Canada (#16 in previous report)
  16. Brazil (#19 in previous report)
  17. South Korea (#20 in previous report)
  18. Argentina (#11 in previous report)
  19. Italy (#17 in previous report)
  20. Belgium (#26 in previous report)

This 55th edition of the report focused quite a bit on the coronavirus pandemic, understandably, but assumed that matter will mostly have short-term effects on the industry. “The investors involved remain confident about the long-term picture for clean energy. Climate change isn’t going away. The need, after the pandemic, to ensure greater economic and social resilience will work in favor of distributed power sources, such as wind and solar, and the applications offered by battery storage. Large companies will be keen to demonstrate that they are responsible corporate citizens, encouraging them to source clean energy.”

China dropped to #2 in the ranking due in large part to the country’s reduction of renewable energy subsidies. Interestingly, despite it being #1, EY didn’t write about USA’s renewable energy investment landscape, seeming to imply a more or less “business as usual” scenario — outside of the Covid-19 pandemic.

EY also wrote a bit about the markets in Greece, Chile, Finland, Japan, Ireland, France, and Italy. Feel free to dive in for more perspective and details regarding these markets.

I’ll just highlight one country before closing out, Ireland. It jumped from #18 in the last report to #12 in this one. That was driven in large part by a new 2030 goal of 70% electricity from renewable resources. It had 33% of electricity coming from renewables in 2018. The middle of this year kicks of some auctions aimed at getting the country rolling toward that target. EY also highlighted strong interest in offshore wind power for the Emerald Isle.

Top photo by Cynthia Shahan/CleanTechnica

 
 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica member, supporter, or ambassador — or a patron on Patreon.
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

New Podcast: How NVIDIA Is Bringing Autonomy To Automakers

Written By

Zach is tryin' to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA], NIO [NIO], Xpeng [XPEV], Ford [F], Volkswagen Group [VWAGY], Amazon [AMZN], Piedmont Lithium [PLL], Lithium Americas [LAC], and Starbucks [SBUX]. But he does not offer (explicitly or implicitly) investment advice of any sort.

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Advertisement

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

EV Sales Charts, Graphs, & Stats

Advertisement

Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Cars

Tesla China has reached another milestone — 6,000 Supercharger installations. Tesmanian reported the milestone on Friday, adding that these stations are able to provide...

Cars

Someone especially focused on fully electric car sales in Europe has put together a site that tracks and shares fully electric vehicle (BEV) registration...

Cars

Following up on last month’s inaugural report on plugin vehicle market share in 6 major European markets and China, here’s a look at how...

Batteries

As demand for electric vehicles continues to accelerate across the country, fast-charging infrastructure is expanding in parallel to meet consumers’ needs. Researchers expect over...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.