Lack of long-term strategy clouds US' renewables market - Ernst & Young

Sep 7, 2012 - The US dropped by a point and a half in the “all renewables” index of US firm Ernst & Young as a result of continuing uncertainty over the long-term green energy strategy and unsure government support.

The audit and consultancy company explained that political wrangling was making it rather difficult to form a cohesive energy policy. Other factors that are making the renewable energy market situation even worse include the continuing decline in the selling prices of solar products despite the recently unveiled anti-dumping duties on Chinese imports, the expiry of the production tax credit for wind projects at the end of 2012 and tension ahead of the November elections, according to Ernst & Young.

In the August 2012 issue of the renewable energy attractiveness indices, the US kept its second place in the “all renewables” index, its third place in the wind index and first place in the solar index, but these ranks are only conditional on the existence of the renewable portfolio standards and favourable renewable energy regimes, Ernst & Young noted.

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