Germany has emerged as Europe's most attractive destination for commercial investors in the renewable energy sector, while the UK has lost momentum due to a comparative lack of pace on policy matters, according to the latest "Ernst & Young Renewable Energy Country Attractiveness Indices", which tracks and scores global investment in renewable energy.
The index, launched at the World Energy Congress in Rome, reveals that Germany has jumped from fifth to second place, displacing the UK, India and Spain, which jointly held this position last quarter.
It also suggests that although the credit crunch has left many investors overexposed to certain sectors, renewables projects still offer a relatively low-risk option for investors.
Although EU countries dominate the Country Attractiveness Indices, the US remains the most attractive destination overall for investment in renewables, a position it has held for two years.
Jonathan Johns, Head of Renewable Energy at Ernst & Young, says the US will continue to attract the lion's share of global investment particularly if changes to legislation continue.
The Ernst & Young Country Attractiveness Indices provide scores for national renewable energy markets, renewable energy infrastructures and their suitability for individual technologies. The indices provide scores out of 100 and are updated on a regular basis.
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