Renewal of wind's federal production tax credit (PTC) in the United States to 2008 and high hopes that the new Democrat controlled Senate will uphold the credit's extension for a further five years have helped the country retain its position as the most attractive country in the world for wind investors, according to market analyst Ernst & Young. In its latest quarterly Renewable Energy Country Attractiveness Index, the company says that leading American corporations are turning to renewable energy for improved energy security and shareholder demands for more responsible companies. Jonathan Johns from Ernst & Young adds that investor confidence has also been boosted by the turning tide of political support in the US. "Wind, biofuels and solar are now key growth areas and could help reduce the country's reliance on oil," he says. The US heads the wind index as well as the all-renewables index. India rises to second place, as Spain drops to third alongside the UK, a reflection of the Spanish government's reduction of wind's incentive payment taking the shine off the market.
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