China is now one of the top two most attractive locations in the world in which to invest in renewable energy projects, according to Ernst & Young's latest global renewable energy country attractiveness indices.
China, which is ranked just behind the US, has moved ahead of Germany for the first time in the reports' six-year history. Ranked fourth in 2008 and sixth in 2007 China has been steadily improving its position as one of the powerhouses of the renewable industry as it increases its commitments to reduce emissions through its carbon intensity reduction plans.
Ben Warren, Ernst & Young's Environment and Energy Infrastructure Advisory Leader, explains, "China is increasingly focused on its renewable energy industries. Since 2007, which saw China take top spot in the world by reaching over 150GW of installed renewable energy plant, local solar PV and wind technology providers have become major players on the global stage: there have been ambitious plans for solar PV; the Golden Sun incentive program has been announced; and recent suggestions that China will double their renewable energy contribution targets to 10% by 2020. Furthermore, China is also relaxing its restrictions on the amount of non-domestic components used to manufacture generation technologies. In fact, China is now expected to lead the world in terms of investment in renewable energy in 2009."
The Ernst & Young Indices rank countries according to their desirability as locations for investing in renewable energy technologies such as wind and solar power. The indices, which set scores out of 100, provide rankings for national renewable energy markets, renewable energy infrastructures and their suitability for individual technologies.
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