Morocco, South Africa ranked among top 40 best renewable energy markets worldwide
A new report, which ranks the world’s top 40 nations on the attractiveness of their renewable energy investment and deployable opportunities, has ranked Morocco, Egypt, South Africa and Kenya among the best markets worldwide.
According to the report, “Ernest & Young’s (EY) Renewable Energy Country Attractiveness Index”, Morocco emerged as the best market in Africa, ranking 16th out of 40 countries on the list, followed by Egypt, which ranked 19th. South Africa and Kenya rounded up the top four list, ranking 34th and 40th on the index, respectively.
The US retained the top position on the index, while China and India took up the second and third positions. The report added that the conditions are ripe for rapid growth in renewables generation, while inadequate grid investments may be a major challenge.
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The EY index has been released twice annually since 2003. It evaluates individual categories such as solar PV, concentrated solar power, onshore wind, offshore wind, biomass, geothermal, and hydro to rank the countries.
Globally, EY expects the United States to hold its top spot for renewables attractiveness under President Joe Biden. The report also noted that France and the UK have switched to clean energy, while Germany has edged back ahead of Australia as its onshore wind market was fruitful in the first half of 2021.
