LONDON May 16 China and India have surpassed
the United States to become the two most attractive countries
for renewable energy investment, a report by UK accountancy firm
Ernst & Young showed on Tuesday.
In an annual ranking of the top 40 renewable energy markets
worldwide in terms of allure, China was the top country,
followed by India.
The United States, which ranked the highest last year,
slumped to third place, due to a shift in U.S. energy policy
under President Donald Trump.
Trump has issued orders to roll back many of the previous
administration's climate change policies, revive the U.S. coal
industry and review the Clean Power Plan, which requires states
to cut carbon emissions from power plants.
Meanwhile, China announced this year that it would spend
$363 billion on developing renewable power capacity by 2020.
India's government has unveiled plans to build 175 gigawatts of
renewable energy generation by 2022.
Among European countries, Germany ranked fourth, France
eighth and Britain moved to 10th place, from 14th last year.
While Britain's renewable investment environment is more
settled than in recent years, which were beset by subsidy cuts,
future energy policy after it leaves the European Union is
uncertain, the report said.
"The UK's reappearance in the top 10 is the result of other
countries falling away – notably Brazil, which cancelled a wind
and solar auction in December - rather than any particularly
encouraging resurgence," said Ben Warren, EY's head of energy
(Reporting by Nina Chestney; Editing by Dale Hudson)