World’s most attractive renewable energy markets report shows largest economies leading the way

EY’s latest biannual report on the best renewable energy markets shows large economies predictably leading the way, with Greece punching above its weight, rising five spots in six months to 16th.

“Ramping up renewable generation, accelerating energy diversification and increasing energy storage are global priorities amid heightened geopolitical tensions, supply chain shortages, an increase in extreme weather events, and soaring natural gas prices… Decentralization has been talked about for decades but, as markets seek to rapidly integrate more renewables and improve grid flexibility, it is encouraging that now, with stronger regulatory support, we are beginning to see real progress,” the document reads.

Potential sustainability impact

With developments in smart grids offering bidirectional flows of electricity and data using two-way communication and control capabilities to optimize the flow of energy along a network and enable real-time responses to changes in demand, there are now opportunities beyond simply growing a nation’s energy output to increase market attractiveness.

Greece’s new legislation is expected to reduce the average time for licensing green projects from five years to 14 months, according to the analysis. In addition, the government kickstarted its offshore wind programme in July with a new law.