Research shows that due to the rapid deployment of solar photovoltaic (PV), Australia has entered the world's three most attractive countries for renewable energy investment for the first time.
The consulting firm Ernst & Young’s semi-annual index of the world’s top 40 renewable energy markets shows that the United States is at the top of the list, followed by China.
Ernst & Young said that Australia rose from fourth to third in May, while India rose from seventh to fourth. This was due to a record low in solar power prices and new targets for renewable energy power generation.
Australia has deployed more than 10 GW of rooftop solar photovoltaic, which is currently the country with the largest installed capacity of rooftop photovoltaic power generation per capita in the world. The country's plan to export renewable energy to Asia also helps to enhance its position.
However, due to the COVID-19 crisis and policy uncertainty, Australia’s renewable energy investment declined in the second quarter, and as part of the economic revitalization efforts, the government continued to subsidize the natural gas and refining industries.
Ernst & Young said: “Despite policy uncertainty, grid stability and price fluctuations, the index shows that Australia is expected to become a leader in green energy exports.”
As the renewable energy auction was postponed indefinitely and plans to retroactively reduce solar subsidies, France fell from third to seventh.
Countries that have risen in the rankings also include the United Kingdom, Portugal, Morocco, Poland and South Korea, while Germany, Denmark and Mexico have fallen in the rankings.
Above news from CHIKO Sales & Marketing department
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