China's renewable energy investment attraction ranks fourth in the world
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Ernst & Young is ranked according to the countries' market and infrastructure development in the field of renewable energy. It believes that China’s wind power generation industry has achieved rapid development, while the UK’s renewable energy strategy has suffered repeated setbacks.
Dr. Gordon Aguir, Director of Economics and Marketing at the British Wind Energy Association, believes that China's ranking over Britain is mainly due to China's renewable energy policy. China has set a target of 15% of total renewable energy in energy consumption by 2020. The Chinese government’s emphasis on infrastructure construction in this area is particularly attractive to investors.
Although the UK’s ranking has declined, Ernst & Young believes that rising oil and other energy prices will put pressure on the British government. By 2020, the UK is still expected to achieve its 15% energy consumption target from renewable energy.
Ernst & Young said that although the U.S. government is uncertain about whether to extend the preferential taxation policy for renewable energy, the U.S. is still the most attractive country in renewable energy investment. Germany’s renewable energy business is also steadily advancing. At present, Germany ranks second in this list, second only to the United States.