- While India is the fourth most attractive destination for renewable energy, its solar PV market buoyed by low tariffs is the most attractive in the world.
- The U.S. and China still remain the top two markets for renewable energy investments globally.
Ernst & Young (E&Y) has rated India as the top destination for solar PV in the latest edition of its Renewable Energy Country Attractiveness Index. E&Y has published a list of the top 40 countries by renewable energy investment for the past 17 years.
In the list, the United States and China topped as the first and second most attractive destination for global clean energy investments respectively.
A breakdown of the spending by technology type showed that India is a top destination for Solar Photovoltaics with about 35GW of installed capacity and very low solar electricity tariffs. China and the U.S. complete the list of the top three most attractive locations for solar PV.
In the latest list, Morocco, Portugal and Vietnam all climbed five places. Taiwan, which has ambitious offshore wind targets climbed14 places.
Australia (3rd), India (4th), And the U.K round off the top five. Germany fell to sixth, due to the Covid-delayed national auctions in France, the nation fell to seventh while Japan, the Netherlands and Spain made up the top ten.