Earthmover and Civil Contractor
June, 2007 Page: 20
Australia ranks 14th out of 25 countries in terms of its investment attractiveness for renewable energy, behind the US, India and China, according to a survey by Ernst & Young.
THE INDEX rates countries according to their overall near and long-term policies for renewables, particularly wind energy. China's installed wind energy capacity doubled last year, and is set to exceed 5000MW well before its 2010 target. Australia has 817MW wind energy capacity, with new projects tapering off to about 100MW last year as industry incentives run out.
The US is expected to build 3000MW of wind farm capacity this year, up 26% on last year, resuming its growth as more states set renewable energy targets. California alone aims to get 20% of power from renewable sources, including solar, by 2010.
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