O Brazil dropped four positions No. world ranking of renewable energy, falling from ninth to 13th place, in a list of 40 countries. The information appears in the new edition of RECAI (Country Attractiveness Index in Renewable Energy), prepared and recently published by EY Agency.
Produced since 2003, the survey classifies every year top 40 markets of the world in relation to the attractiveness of its investments and opportunities for implementing renewable energy, such as solar and wind.
In this edition, the United States and China remained in first and second place of interest, respectively. Next come the United Kingdom and , which continue to advance; , which dropped one position (from fourth to fifth); Australia, which moves up one place to sixth place; and India, which fell from third to seventh place.
Brazil still appears ahead: Japan, which remains in eighth, Spain and the Netherlands, which move up one position, occupying ninth and tenth places, respectively, followed by Denmark and Ireland, in 11th and 12th place.
Despite the negative result, Brazil still remains the first Latin American country to appear in the renewable energy ranking, ahead of nations such as Chile and Argentina, which fell two positions, and are today in 24th and 27th place, respectively.
“Brazil’s renewable energy generation and capacity far exceeds that of other Latin American markets, but other countries are taking important steps to advance their renewable industries,” say the study’s analysts.
Conclusions
The countries that advanced the most in the RECAI ranking were Austria, whose government committed to contributing US$264 million to the development of renewable energy and facilitate the authorization process for renewable projects, and Finland, which approved a model auction to lease public waters for offshore wind development from 2023-24.
On the other hand, India is the country that has stood out the most negatively and is falling further and further behind. According to the report, this is because the country's wind sector is struggling to keep up with the explosive growth of the solar sector and is unlikely to reach its 60 GW installation target by 2022.
The report explores how new renewable technologies and green fuels have the potential to substantially reduce the share of gas in power generation. Specifically in this new edition, the report reached the following conclusions:
- Emerging technologies and green fuels will be key to reducing global dependence on gas;
- Floating solar and wind energy has the potential to become more popular as demand for new renewable energy sources grows;
- Latin America is a green energy market to watch if it can overcome current obstacles to growth.
