China overtakes US as best renewables development prospect

UNITED STATES: The US has fallen second to China in rankings of the most attractive markets for renewables development.

China overtakes US for first time as 'most attractive renewables development propect
China overtakes US for first time as 'most attractive renewables development propect

Ernst & Young’s (E&Y) latest instalment of its quarterly renewable energy attractiveness index shows the US dropping two points to score 67 out of 100, while China remains on 69.

In the report’s wind indices, the US ranks behind China again this quarter, falling two points on the long-term wind index and one point on the short term.

E&Y blame the US’s drop in the renewables and long-term wind rankings on the Senate’s failure to include a renewable electricity standard (RES) in its energy bill.

They also cite the looming expiration of the treasury’s grant program for renewables, at the end of this year.

On the near-term outlook, the report blamed news that offshore plans may be delayed by a reorganisation of the Minerals Management Service, now the Bureau of Ocean Energy Management, Regulation and Enforcement, following the Gulf of Mexico oil spill.

The renewables index is based on factors including regulatory risk, planning, grid connection issues, access to finance and ratings for six technologies including onshore and offshore wind.

Each of the resource indices considers power offtake attractiveness, tax climate, market growth potential, resource quality and project size. The long-term wind index also considers grant and loan availability and current installed capacity.

EXTERNAL LINK: The Renewable Energy Country Attractiveness Index.

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