China, which is ranked just behind the US, has moved up the Ernst & Young renewable energy country attractiveness index, driven by a relaxation of restrictions on the amount of non-domestic components used in renewable generation technologies, increased subsidies for solar energy installations and a recently announced plan to lower its carbon intensity.
Ernst & Young’s Environment and Energy Infrastructure Advisory Leader Ben Warren said, "China is increasingly focused on its renewable energy industries. In fact China is now expected to lead the world in terms of investment in renewable energy in 2009."
In 2007, China took the top spot in the world when it reached over 150 gigawatts of installed renewable capacity.
NASDAQ reports Ben Warren said, "If a global agreement is achieved in Copenhagen, a host of new policies and regulations will emerge worldwide, catalyzing a global energy revolution, altering the way and the extent to which we travel, and providing enormous stimulus for technology innovation."