The US renewable energy market has ranked as the most attractive for investment.
A new report by the information provider IHS Markit shows that the country’s current policy framework, infrastructure readiness and revenue risks helped it to claim the top spot.
The research, which tracks attractiveness for investment for non-hydro renewables, including offshore wind, onshore wind and solar PV, suggests China, which developed more than half of the world’s renewables additions last year, ranked third, behind Germany.
The stable procurement mechanisms helped France and Spain secure the fourth and fifth spot respectively.
Eduard Sala de Vedruna, Executive Director, Global Clean Energy Technology and Renewables at IHS Markit, said: “Onshore wind, offshore wind and solar PV are set to account for over 80% of all new power generation capacity additions globally to 2030.
“While the lion’s share of 2020 capacity additions came from just two markets, China and the US, close to 50 markets recorded double-digit growth in the past year.”