US Continues to be Most Attractive Market for RE Investment as China Follows; India Claims 7th Spot
Highlights :
- For India, the latest ranking marks a steep drop from no. 3 to no. 7, probably linked to the tariffs imposed on solar imports in 2022
EY has released a report that provides an insight into the world’s 40 most attractive markets for renewable energy investment.
The US has retained the top spot for years on EY’s list and in the latest edition too, the United States continues to be the most lucrative market for renewable energy investments. The Inflation Reduction Act 2022 is a key factor that has proven to be a gamechanger for the country at least as far as Green Hydrogen is concerned.
Following at number two behind the US is China, which is looking to achieve net-zero by 2060.
Germany claims the third spot. With the Easter Package, it is set to triple its RE expansion in the coming decade. On number four is the United Kingdom with France coming in next at number five.
India claims the seventh position on the list. In December 2022, MNRE Minister R K Singh said that India could see $25 billion dollar worth of investments in 2023. The country has been proactively encouraging EV adoption, Green Hydrogen production. The focus has also been on solar equipment manufacture and energy storage development.
Greece and Indonesia have notably risen on the list. Thailand, as per the list, is the least attractive for renewable energy investment.
India’s ranking on the list is a drop from as high as 3rd position it has had earlier.
