China Maintains Dominance In Renewable Energy Market

By Renew Grid:

Having quadrupled its solar capacity target to 50 GW by 2020 and begun an accelerated domestic installation program to tackle the oversupply of solar panels, China looks set to continue its domination of the global renewable energy market, according to Ernst & Young’s latest quarterly global renewable energy Country Attractiveness Indices (CAI)report.

The indices provide scores in 40 countries for national renewable energy markets, renewable energy infrastructures and their suitability for individual technologies. During the second quarter of 2012 (Q2’12), China remained at the top of the All Renewable Index (ARI), but it has a number of challenges to overcome, such as the oversupply of wind turbines and solar panels and the resolution of grid transmission issues.

During the same period, the U.S. dropped 1.5 points to share second position with Germany. This decrease was caused by ongoing uncertainty over the U.S.’ long-term renewable energy strategy and a failure to indicate if there will be an extension to the critical production tax credit (PTC) for wind projects. The drop in the U.S. score coincided with Germany’s gaining a point – the result of the German government’s proactive approach to addressing barriers to offshore wind development and creating stability in the solar sector… Read more

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