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Australia moves into top three countries for renewable investment: research

Australia moves into top three countries for renewable investment: research

11/24/2020 10:10:00 AM

Australia moves into top three countries for renewable investment: research

Australia has moved into the three most attractive countries in the world for renewables investment for the first time due to rapid solar photovoltaic (PV) deployment, research showed on Tuesday.

Australia rose to third place, from fourth in the last ranking in May, while India climbed to fourth from seventh due to record low solar tariff bids and a new target for renewables generation, EY said.Australia has deployed more than 10 gigawatts of roof-mounted solar PV, by far the largest per capita rooftop-PV deployment in the world. Its plans for renewable energy export links to Asia also helped elevate its position.

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However, Australia’s renewables investment fell in the second quarter due to the COVID-19 crisis and policy uncertainty and the government continues to subsisdise both the natural gas and oil refining industries as part of efforts to revitalise the economy.

“Despite policy uncertainty – and issues with grid stability and price volatility – the index indicates that Australia could be set to become a green energy exporting leader,” EY said.France sank to seventh place from third as renewable energy auctions were postponed indefinitely and planned retroactive cuts to solar subsidies.

Other countries to rise up the rankings were Britain, Portugal, Morocco, Taiwan, Poland and South Korea, while Germany, Denmark and Mexico were among those which fell.Reporting by Nina Chestney, editing by Ed Osmond Read more: Reuters Top News »

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Now if only their government would move out of 1953. So maybe Rupert Murdoch ruined our country with FoxNews making the idiocracy deny climate change so that Australia could get the upper hand in renewable tech... good plan, looks like it’s working. 😢🇺🇸 .....while South Africa sinks ever deeper into a stinking compost heap.....

Australia is covid 19 free what a great country Please let US come live with you Australia, I promise we’ll be cool _emmajane4 will Australia have the next Tesla? Congratulations Australia. Unfortunately for America the dirty Koch brothers are force to be reckoned with. They can't keep renewable technology suppressed forever.

KyleR_IG Fantastic. All of it in spite of a coal and gas loving federal government. The states are doing all the heavy lifting. I am glad ,I did my part. ☘🌿🌳 Research is one thing. Implementation is another. Good to see this. India at No. 4. This is needed to save the planet.