China topped the EY Renewable Energy Attractiveness Index for three times

In Ernst & Young's (EY) latest Renewable Energy Country Attractiveness Index (RECAI), China maintains its lead, while the United States overtakes India in second
place.

China topped the EY Renewable Energy Attractiveness Index for three times

The United States replaced India and climbed to second place
in the top 40 rankings.
India's imminent 70% import tariff on solar panels and the threat of lower power tenders have spurred investor concerns
about its "too ambitious" 2022 solar target.
Meanwhile, despite protectionism in renewable energy??, the United States was able to regain second place
.
EY said the U.
S.
benefited from the absorption of solar tariffs as well as the recently passed tax reform bill, which does not include cutting subsidies
for wind projects.

China topped the Green Energy Index
for the third consecutive year.
Germany took third place and India dropped to fourth
.
Another country in the top five is Australia
.

"The change in the index ranking shows that as the renewable energy sector matures and the market expands, rising interest rates and reduced government subsidies for clean electricity are facing headwinds
.
" Ben Warren, Editor-in-Chief of RECAI, commented, "While the current economic environment has driven a relentless focus on costs, the focus is on the benefits
of the year-over-year decline in the global electricity cost of renewable energy.
Coupled with the falling cost of battery technology, we expect the renewable energy industry to grow further rapidly in
the coming years.
”

The most significant upward trend in the ranking includes the United Kingdom moving up to seventh place and the Netherlands moving up to ninth place
.
EY said the UK's rebound on three fronts had seen a market adapted to the zero-subsidy scheme for the solar sector, with the country stepping up the development of onshore wind projects
for commercial power generation.
On the other hand, the Netherlands rose from 15th to 9th place
due to the expansion of the solar market and the subsidy-free offshore wind industry.

In addition to India, the markets that fell in the index rankings include Japan, Chile, Mexico, Argentina and Canada
.
More than 80 solar companies went bankrupt
last year due to sharp cuts in feed-in tariffs and fierce competition.
Canada's installed wind capacity fell from 702 MW in 2016 to 340 MW last year
.

New members in the index rankings include Taiwan, Poland, Norway and Indonesia
.

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