Which countries have an enabling environment for investment in renewable energy?
- Globally, three quarters of countries covered by Regulatory Indicators for Sustainable Energy (RISE) have adopted legislation and strategic plans and assigned responsible institutions to achieve those targets. Almost all countries have a renewable energy target.
- Where wind and solar power account for at least 5 percent of total electricity generated in 2014, more than 80 percent of countries globally have completed a grid integration study to understand how to bring variable renewable energy into the grid.
- The average permitting time for a renewable energy project for the 111 countries covered by RISE is about 500 days. Small-scale, grid-connected, solar and wind projects usually benefit from quicker procedures.
- In 2015, India announced an ambitious goal to increase its renewable power capacity fivefold in seven years. Of this increase, 57 percent would be solar power and 34 percent wind power.
- China’s Renewable Energy Law (2005) set ambitious renewable energy targets underpinned with clear strategies and investment plans. The target for non-fossil fuel energy is 15 percent of national total energy consumption by 2020. There are technology-specific targets for solar power, wind power, hydropower and geothermal energy. Investment incentives and feed-in tariffs are in place for wind and solar power.
- Twenty-three countries have a carbon pricing mechanism in place to accompany the deployment of renewable energy. This includes 15 countries that subscribe to the European Union’s Emission Trading Scheme (EU-ETS), a key tool to meet EU climate and energy targets. Australia and Turkey are the only countries that have introduced mandatory reporting of greenhouse gas emissions by emitters while still considering the implementation of a carbon pricing mechanism.
NOTES: 1. Regulatory Indicators for Sustainable Energy (RISE) is a suite of indicators that assesses the legal and regulatory environment for investment in sustainable energy.
2. The dotted line represents approximately the Line of Control in Jammu and Kashmir by India and Pakistan. The final status of Jammu and Kashmir has not yet been agreed upon by the parties.
3. This map was produced by SEforALL. It is based on the UN Map of the World, which can be found here: http://www.un.org/Depts/Cartographic/map/profile/world.pdf. The boundaries, colors, denominations and any other information shown on this map does not imply, on the part of SEforALL, any judgment on the legal status of any territory or any endorsement or acceptance of such boundaries.
SOURCE:Regulatory Indicators for Sustainable Energy (RISE), World Bank Group, 2017. Data extracted from http://rise.esmap.org/ on 06/23/2017.
- RISE offers policy makers and investors detailed country-level insights on the policy and regulatory environment for sustainable energy across 111 countries globally.
- 77 percent of the 111 countries covered by RISE do not have carbon pricing and monitoring schemes in place or require mandatory reporting of greenhouse gas emissions. Where carbon pricing mechanisms are in place they almost always form part of the policy framework for renewable energy and climate action, as reflected in countries’ Nationally Determined Contributions.