India ranks at third position after the United States and China in the category of Renewable Energy Country Attractiveness Index reported by EY.
India achieved the position due to strong focus of the Government stress on Renewable Energy with the implementation of Renewable energy projects
♦ Rank 1: United States
♦ Rank 2: China
♦ Rank 3: India
- Ranked on the basis of Size and Scale of renewable activity
- Emerging markets represent half of the countries in the 40 strong index including four African markets featuring in the Top 30
- Before 10 years China and India were the major attractive markets for renewable energy investment. Chile, Brazil and Mexico also enhanced and topped in the list.
- The report demonstrated that low solar bids are not a phenomenon that is restricted to India, but other countries such Mexico, Dubai have also been reported low solar bids.
- In India, wind continues to be at a pricing premium to solar in rest of the world.
- But both these technologies challenging towards grid parity which not lead traditional utility business models