Dec 2 2010
Ernst & Young’s indices that rank renewable energy markets and technologies of the countries world over in recent release ranks China as the leader in utilizing renewable energy sources.
The Indices also includes Mexico, Egypt, Romania and South Korea in the new entrants list. It mentions that South Korea leads the new entrants by securing 18th position because of its determined targets, incentive programs and strong supply chain.
The Indices indicate that in the second quarter of 2010, China has invested approximately $10bn in its wind energy development programs out of the total global investment of $20.5bn representing nearly 50% of the total investments. In other words one out of every two wind turbines that started power projection during that period was installed in Chinese soil. The Indices mention that the United States, which was leading the indices from November 2006 to May 2010, remains five points below China. The report attributes factors such as lack of clear medium-to-long term policies related to environment, financial crunch and low gas prices in the US as reasons for the point slump.
Ben Warren, Energy and Environmental Infrastructure Advisory Leader of Ernst & Young UK, said that after reaching the top of the index China has unfolded its options in other renewable energy markets. He added that the renewable energy sources occupy a prime slot in the future economic development plans of China. He further said that the intensity of wind energy exploitation in China indicates the clear-cut industrial and clean energy policies practiced in the country. He indicated that the solar industry in China is also fast growing to occupy an important position in the global solar market.
Source: http://www.ey.com/