13 Dec 2010 12:12:06
China 'most attractive' renewable energy market
China has been named as the most attractive renewable energy market by Ernst & Young, ahead of both the US and the UK.
In its latest Renewable Energy Attractiveness Country Index, the Big 4 firm said China had invested record levels in its wind energy industry last quarter, representing almost half of the funds placed in the sector worldwide.
"Such heavy investment has ensured that approximately one in every two wind turbines to go live in 2010 will be in China," the report stated.
As of November, the UK has represented the fifth most attractive renewable energy market in the world, behind China, the US, Germany and India.
Britain jumped a position since the previous index, thanks to the publication of the spending review and the National Infrastructure Plan "both of which signalled strong support for renewables and specific investment in offshore wind".
The Centre for Alternative Technology recently claimed that the UK could be powered entirely by renewables by the year 2030.
South Korea, Romania, Egypt and Mexico were named as "significant new entrants" within the rankings, with South Korea sitting highest in 18th position.