US is once again the most attractive place for renewables investments
According to the latest research, the United States took the status as the most attractive place for renewables investments from China. Meanwhile, the energy market is expected to recover fast, even while the pandemic is still active.
The global consultancy agency EY published its annual rating of the top 40 best markets of renewable energy. For the first time in four years, United States took the first place - China got the second.
The rapid growth of the United States in this regard has been spurred by the recent extension of the production tax lonas aimed primarily at wind projects, as well as plans to commit US$57 billion to the creation of 30 GW of wind stations offshore in the next 10 years.
The construction started in 2016. First projects have to be operational by the end of 2020 in order to be eligible for the tax credit.
Meanwhile, the development of the Chinese renewables has been hindered by the government’s plans to cut the state subsidies for the projects. Together with the lowered demand, it has reduced China’s appeal for the investors.