2016 was a year of impressive solar photovoltaic (PV) installations in the G20. On average, G20 countries installed 50% more solar PV last year than in 2015. New installations for wind decreased by 24%, although from a high level. Renewable energy expansion was notable in emerging markets in China, India, South Africa, Mexico and Turkey. Growing electricity demand, combined with declining technology costs underpins this boom. Brazil was an exception among these emerging economies, with almost no new solar PV uptake and a modest increase in total wind capacities (23% increase over 2015), the lowest in a decade.
Germany, UK and France maintain their top positions in the 2017 Monitor. They combine a largely stable and supportive policy environment with highest experience of renewable energies (i.e. market maturity) in the G20 and adequate general investing environment. France and Germany are the only EU countries to submit long-term greenhouse-gas emission development strategies to the UN so far (until May 2017). A similar long-term policy certainty is lacking in the UK. The UK saw the largest drop in policy attractiveness scores this year, although it maintained its overall attractiveness rank due to continued interest in the renewables industry. UK’s binding renewable energy target ends in 2020 (30% power using renewables) and it is unclear if the government will throw its weight behind renewables and climate change in general after Brexit.
Source : Allianz