• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 3 hours UK, Stay in EU, Says Tusk
  • 5 hours Socialists want to exorcise the O&G demon by 2030
  • 3 hours Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 13 hours How Is Greenland Dealing With Climate Change?
  • 13 hours German Carmakers Warning: Hard Brexit Would Be "Fatal"
  • 19 mins Venezuela continues to sink in misery
  • 15 hours WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
  • 1 hour What will Saudi Arabia say? Booming Qatar-Turkey Trade To Hit $2 bn For 2018
  • 10 hours Maritime Act of 2020 and pending carbon tax effects
  • 1 day "Peace Agreement" Russia vs Japan: Control Over Islands Not Up For Discussion
  • 17 hours Trump inclined to declare national emergency if talks continue to stall - Twitter hides this as "sensitive material"
  • 23 hours Solid-State Batteries
  • 22 hours Orphan Wells
Alt Text

Energy Transition Under Fire As Power Bills Soar

Soaring costs of living, apathetic…

Alt Text

New Rechargeable Battery Could Accelerate EV Adoption

University of Michigan researchers have…

Alt Text

Innovations Are Rocking The Battery Industry

Battery technology is advancing at…

Charlotte Dudley

Charlotte Dudley

Charlotte is a writer for Environmental Finance.Environmental Finance is the leading global publication covering the ever-increasing impact of environmental issues on the lending, insurance, investment…

More Info

Trending Discussions

Despite Challenges China Remains the Number One Market for Renewables Investment

China is still the most attractive market for renewables investment, despite facing significant supply chain challenges, while continued economic pressure has put the wider global renewables market “in a state of flux”, according to analysis by Ernst & Young.

China again topped the All Renewables index in the consultancy’s quarterly Renewable energy country attractiveness indices, ahead of the US. However, for the first time in recent quarters, the Asian nation failed to increase its score in the rankings, amid concerns its “meteoric” wind and solar growth path is unsustainable.

While China’s wind sector showed strong growth in 2010 and its solar industry is expected to benefit from additonal government subsidies, the consultancy highlighted concerns about supply chain challenges such as bottlenecks from weak R&D capacity, limited grid capacity and an imbalance in equipment production capacity.

Caution in Chinese stockmarket listings, falling stock prices and inflationary pressures were also factors in the country’s static index scorecard, the report said.

Meanwhile, the legacy of the global financial crisis continues to put pressure on the global renewable industry.

“Some countries and technologies are finding the economic conditions deeply challenging,  leaving the market in an overall state of flux,” Ernst & Young said, noting a growing concern, particularly among developed countries, with getting value for money from renewables.

“The pressures to reduce national debt in developed countries, and control fiscal burdens on industry, consumers and taxpayers, are leading to a very keen focus on better value for money,” the report says. “This is supplemented by a renewed interest in carbon taxes and other fundraising devices – notwithstanding the desire to combat climate change and drastically lower carbon emissions.”

The renewables sector must engage in the wider low-carbon energy debate to ensure “it benefits from the incentives it needs and gives value for money to the various stakeholders”, the report adds.

US steady but uncertain, policies boost Turkey, Brazil

The US remains in second place on the All Renewables rankings and managed to climb one point in the index following the US government's extension of the 1603 Treasury grant programme for renewable energy until the end of 2011.

“The news is a sign that the US administration is prepared to take necessary steps to boost renewable energy development, even if it does come at the 11th hour. However, there is still some longer-term uncertainty,” the report says.

While US wind installation collapsed in 2010 to 5.1GW from 9.9GW in 2009, the report notes encouraging signs such as President Barack Obama’s target of 80% clean electricity by 2035, as outlined in his recent State of the Union address.

Germany and India maintained joint third position, while the UK remained in fifth alongside Italy, which rose from sixth position. Italy’s rise reflects its fourth quarter surge in solar photovoltaic installations – despite allegations of inflated installation figures – and the €600 million ($833 million) the European Investment Bank package awarded to Enel Green Power to fund renewables projects.

The Netherlands and Australia slipped two spots to 18 and 14 respectively, reflecting reductions in subsidies for Dutch renewables and Australia’s roll-back of solar support for householders and policy proposals that could restrict wind farm growth.

Turkey moved up one position to 27, buoyed by the approval of favourable renewable tariffs, while Brazil jumped from 18 to 16, boosted by a series of government commitments to ban additional fossil fuel power plants from 2014 and increase renewables incentives and grid capacity.

By. Charlotte Dudley

Source: Environmental Finance




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News