UK rated 5th best country for renewable deployment: The UK has become the fifth-best country worldwide for renewable deployment.
As reported by EY’s Renewable Energy Country Attractiveness Index (RECAI), that says the UK hopped one place to 5th in the global ranking, following the government’s guarantee to invest £350 million to slash carbon emissions and support the net zero goal.
Meanwhile, the US maintains its place at the top of the index because of support from Covid-19 stimulus packages, while China stays in the 2nd spot with a increasing solar sector despite the pandemic.
The study also shows India has moved up from the 7th position to fourth thanks to a growth in installed solar PV capacity.
Germany, which has promised to ending all coal-powered production in the country by 2038, ranked sixth, because of further support for its offshore wind sector & the development of green hydrogen.
Ben Warren, EY Global Power and Utilities Corporate Finance Leader and RECAI Chief Editor, stated: “With a verbal commitment from the UK government to support wind power, backing up the rhetoric with a well thought through industrial policy could put the UK at the forefront of one of the most exciting and transformative industries in the world.
“Energy storage, the decarbonisation of heat and transport and intelligent energy management and trading capabilities to support the transition to net zero are just some of the areas where the UK has strength and expertise.”
UK rated 5th best country for renewable deployment