Each quarter, the Ernst & Young Renewable Energy Group publishes a list of countries with their Attractiveness Index for investments in renewable energy. In Q3 of 2006, several significant changes occurred compared to Q1. The USA took over first place, moving Spain into second, and India advanced to third place dropping the UK into fourth.

In a surprise move this quarter, the USA has climbed above Spain in the All Renewables Index to take 1st place, reflecting the significant growth opportunities in the wind sector. Higher targets for emissions in California, and unprecedented support across an increasing number of states employing the RPS mechanism, are seen as key drivers behind the score.
China has risen two places to 6th, one place behind Germany, reflecting the level of investment flowing into the renewables market in this region.
The policy revision in Greece has given hope to developers invested in the significant pipeline of wind projects awaiting consent, justifying Greece’s move from 13th to 7th place. Meanwhile, Norway’s improved score has raised it one place to 14th reflecting a modest new subsidy regime announced in October 2006. Italy, on the other hand, drops one place in the indices reflecting some uncertainty over the future of the green certificate mechanism.

China rose from eighth place to sixth place.

The top 10 ranking and their indices are now as follows: USA (71), Spain (68), India (63), UK (62), Germany (61), China (57), France (56), Italy (56), Portugal (56), and Greece (56).

What this means is that America is ripe for renewables. As is China and India. Will we realize this boon, or sit by and watch other countries continue to advance?

Read the rest of the report here.