World Leader In Renewable Energy: India Bags Second Rank In Climatosope Report 2018, China Slips To Seventh

According to the Climatescope Report 2018, India has jumped three places to rank second in terms of overall improvement in the deployment of renewable energy, as reported by BloombergQuint. Energy researcher BloombergNEF published the report.

The survey, which took into account over 103 countries, judged them on three parameters: strong government policies, a demonstrated track record of clean energy investment, and a commitment to de-carbonisation despite grid constraints. Chile, the South American nation, fared the best, followed by India, and Jordan, the Middle Eastern country.

Commenting on India’s vibrant renewable energy industry, the report said, “The Indian market is home to the largest and most competitive auctions in the world, which contracted over 10.5 GW from wind and solar in 2017 alone.”

However, the report was less sympathetic towards China which moved to the seventh rank this year, from last year’s top position. It noted that “ while China remains the largest market for clean energy build by far, curtailment issues and the halting of subsidies to solar generators dented its score.”

Despite such notable accomplishments, the government is expected miss its ambitious target of installing 175 GW of renewable energy in the country by 2022. Out of the total, 100 GW was expected to come from solar panels, 60 GW from wind, 10 GW from biomass power and 5 GW from small hydropower.

Also Read: Why The World Is Betting High On India’s Renewable Energy Sector