India, China surpass US as most attractive renewables markets: EY report

Thanks to strong government support, India has moved up to the second spot in the ‘Renewable energy country attractiveness index’ 2017 from the third position it held for the last two years, said a report released by Ernst & Young.

The report released globally on Tuesday stated that China, which tops the index, and India have surpassed the US.

“The fall—the first for the US since 2015—to third in the ranking of the top 40 countries follows a marked shift in US policy under the new administration,” the report said.

 

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It identified the US government’s executive orders to roll back many of the past administration’s climate change policies, revive the US coal industry and review the US Clean Power Plan as key downward pressures on renewable investment attractiveness.

The report also highlighted that economically viable renewable energy alternatives coupled with security of supply concerns are encouraging more countries to support a clean energy future.

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