Renewable energy country attractiveness index-2016

ernst and young renewable energy country attractiveness index 2016

Question: What is the rank of India in recently releases Renewable energy country attractiveness index 2016?
a.Third
b.Second
c.Fourth
d.Fifth
Ans: (a)
Related facts:

  • On 10 May 2016 Global organization Ernst & Young(EY) has released the Renewable energy country attractiveness index 2016.
  • The report included 40 countries on the attractiveness of their renewable energy investment and deployment opportunities based on a number of indicators.
  • The emerging markets now represent half of the countries in the 40-strong index, including four African markets featuring in the top 30.
  • India is ranked at 3rd position while the index was topped by the United States (US) followed by China at 2nd position.
  • Countries like Chile are at 4th position, Brazil at 6th position and Mexico at 7th position climbed higher in the index top 10.
  • While Germany and France fell in the ranking to 5th and 8th position respectively.
  • India’s position is thanks to the strong focus of the government on renewable energy as well as timely implementation of renewable energy projects.
  • The report also suggests that with the growing number of jurisdictions contracting utility-scale renewable energy through competitive auction processes, renewable energy is increasingly proving its mettle against conventional energy generation.
  • Argentina is the highest-scoring new entrant in the index. The transformation of the country’s economy brought it into the index in 18th position.
  • Brazil’s renewable sector is showing surprising resilience amid an economic downturn and its underdeveloped solar market remains a potentially lucrative lure.
  • Mexico’s recent power auctions have opened the door to multi-billion dollar opportunities under a new liberalised energy market.
  • The report also highlights Chile as one of the first markets to enable economically viable renewable projects to compete directly with all other energy sources.
  • The index ranks 40 markets on the attractiveness of their renewable energy investment and deployment opportunities, based on a number of macro, energy market and technology-specific indicators.
  • The methodology has been refreshed in the May edition to reflect greater focus on energy imperative, policy stability and routes to market.

Reference:
http://www.ey.com/GL/en/Industries/Power—Utilities/EY-renewable-energy-country-attractiveness-index-our-index
http://www.ey.com/GL/en/Industries/Power—Utilities/EY-renewable-energy-country-attractiveness-index-latest-issue
http://www.ey.com/Publication/vwLUAssets/EY-RECAI-47-May-2016/$FILE/EY-RECAI-47-May-2016.pdf