The United States, China, and India held their top billing as the best places to invest in renewable energy in the 47th edition of Ernst & Young’s Renewable Energy Country Attractiveness Index (RECAI).
The next five countries in the ranking were Chile, Germany, Brazil, Mexico, and France, with the three Latin and South American countries moving up in the last year and the two Europeans losing ground.
“Almost without exception, European markets slipped down the rankings while less mature markets across Latin America, Africa, and Asia continued their ascent,” Solar Industry reports. “So-called ‘emerging’ markets now represent half of the countries in the 40-strong index, including four African markets featured in the top 30.”
“Emerging markets are transforming their energy industries at an unprecedented pace,” said RECAI Chief Editor Ben Warren, Ernst & Young’s global power and utilities corporate finance leader. “Last year, renewable energy investments in the developing world overtook those in the developed world for the first time. Latin America, in particular, has become something of a litmus test for how quickly markets can grow.” (h/t to Clean Energy Review for pointing us to this story)