Ernst & Young has recently assessed 40 countries to determine their attractiveness to renewable energy investors.
The All Renewable Index 2012 ranked China in the top spot once again. Despite dropping 0.2 points since the last index in May, China finished with 70.2 to clinch first place. A major factor for China being voted as the most attractive country for investors was the move to increase their solar target by 400% to 50 gigawatts by 2020 in an attempt to encourage more domestic installations and use up the oversupply of photovoltaic panels.
If China manages to achieve the renewable energy targets it has set, the IEA believes that it could provide about 40 percent of the world’s renewable energy capacity within the next five years.
Well, I find this rather comforting as an American. China can run with this all it wants, but it’s doomed to eventual failure even in a mostly-command economy.
If they actually come up with anything useful, we can take a page from their book and simply steal the idea.
Lets see what the Chinese themselves say:
Oh.