In an annual ranking of the top 40 renewable energy markets worldwide by consultancy EY, the United States was ranked first, with Germany climbing one place to second position for the first time in a decade.
"While this is a major milestone in its progress to accelerated energy transition targets, there is likely to be an increase in the use of coal in the short term, to reduce the effects of intermittency in the power supply," the report said. The United States held its top position in the index, supported by the passing of the Inflation Reduction Act last year, which earmarks $369 billion for investment in energy security and climate change.
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