On Ernst & Young‘s 2018 Renewable Energy Country Attractiveness Index (RECAI), China tops the list of forty countries, followed by the U.S., Germany, India.
India’s 2022 solar power target seems over-ambitious in response to the threat of a 70% tariff on imported solar panels and low power bids. In January, the United States. imposed tariffs on imports of solar PV cells and modules set at 30%. However, RECAI points to the resilience of the U.S. market, which climbs from third to second position as the solar tariffs are mostly absorbed and wind projects are not subject to subsidy cuts under the recently passed U.S. tax reform bill.
Ben Warren, EY Global Power & Utilities Corporate Finance Leader and RECAI chief editor says, “While the current economic climate has driven a relentless focus on costs, that focus is paying dividends with the global cost of electricity from renewable sources falling year-on-year. Combined with the plunging cost of battery technology, we anticipate further rapid growth of the evolving renewable energy sector in the coming years.”
Last updated: December 26th, 2025
