EY (Ernst & Young) - one of the world's largest audit and consulting companies - has published a new index, which includes 40 countries that are the most attractive in terms of developing renewable energy sources.
The methodology of the study includes 5 pillars: macrovitals, energy imperative, project delivery, and technology potential (solar, wind, geothermal, etc.). Each of these pillars has internal parameters such as economic stability, political stability and support for renewables, infrastructure, the availability of resources and technology, etc.
For each parameter the country receives a score between 1 to 5. It is worth noting that different types of renewable sources, due to geographical position and other macro and energy market parameters can play a different role in acountry. The rating compilers also consider these features and, separately to the main index, assign a weight to the technologies, in accordance with the share of historical and projected investments.
The leader of the current index and the previous one (from October 2017) is China, the USA is second, and Germany is third. In this index India moved from 2nd to 4th place, analysts from EY explain this by low bids in solar and wind auctions and disputes between developers and distributors of solar energy. The UK rose from 10th to 7th place, thanks to the subsidy-free solar energy projects and the repowering of old wind farms. The bankruptcy of about 80 Japanese solar companies and, accordingly, the growth of tariffs, were reflected in the fall of the country's in the current index from 7th to 8th place. The Netherlands and Denmark (9th and 10th places, respectively) managed to get into the top 10 and squeeze out Mexico and Chile, thanks to the growth of renewable energy markets in these countries. Kenya and Kazakhstan are at the bottom of the index.
Algeria, Vietnam, Uruguay and the Dominican Republic are no longer part of the index, their places were taken by Taiwan, Poland, Norway and Indonesia. The abandonment of nuclear energy and a large investment in offshore wind energy enabled Thailand not only to enter the index, but also to jump directly to the 31st place.