RECAI: Index highlights
RECAI scores and rankings at November 2013
No changes at the top, but increasing policy uncertainty in Germany and the UK could jeopardize their future positions in the index.
Australia has held on to sixth place, but its ability to stay there will largely depend on the outcome of the carbon pricing debate.
Meanwhile France and Canada battled it out for seventh and eighth places, with both announcing new support regimes for tidal power projects. France secured seventh place, thanks to a proposed carbon levy and a cap on nuclear-power capacity next year.
Italy and Spain have plummeted to 12th and 19th places respectively, as severe support reductions begin to impact 4—5 year capacity projections.
South Korea has jumped to 10th place thanks to improved wind and solar forecasts triggered by nuclear shutdowns and an ambitious emissions trading scheme.
Brazil and Chile have climbed to 14th and 15th places respectively. Brazil’s 2013 power auctions are creating a healthy project pipeline, while Chile’s move reflects high levels of project activity and increased renewable energy targets.
Sweden and the Netherlands have moved up because of increased levels of high-value deal activity and strong investment climates.
Thailand and Peru have jumped to 23rd and 26th places respectively. Peru has benefited from a sovereign credit upgrade and increased solar capacity forecasts, and Thailand’s move reflects more ambitious renewable energy targets.
Poland has slipped two places to 25th because of prolonged uncertainty and reduced project activity following the Government’s latest proposals to switch to an auction system.
Ireland has also fallen two places following claims it will not clinch a deal with the UK for the export of wind power until next year, and an absent solar market.
Greece has jumped three places due to significant improvements in its macroeconomic outlook, but it will struggle to rise further without more consistent renewables support and a stronger pipeline.
Bulgaria and the Czech Republic slip down to 35th and 37th positions respectively as severe subsidy reductions flow through to a weaker project pipeline.
A weakening finance market and low forecast capacity push Slovenia down to 39th place.
Ukraine gets a boost to 36th place from 40th, partly due to relatively stable support mechanisms, pending electricity market reforms and higher solar forecasts.
This issue Kenya enters the index in 40th position. With huge resource potential and a stable FIT regime, it is establishing a healthy project pipeline and is expected to become a renewables hub in the East Africa region.
New Zealand has moved out of the index because of a lack of formal incentives, and an energy surplus.