Renewable power investors prefer China, India to U.S.

May 16, 2017, 7:49 AM EDT
(Source: Jason Jacobs/flickr)
(Source: Jason Jacobs/flickr)

According to a report by the U.K. accountancy firm Ernst & Young, China and India have raced past the U.S. to emerge as the two most attractive countries for renewable energy investment.

In a ranking of 40 energy marketplaces, the U.S. slumped to the third spot, a development that analysts attribute to President Donald Trump’s rollback of climate change policies and revival of America’s coal industry, writes Reuters.

China plans to pump in $363 billion for developing renewable power capacity by 2020 while India targets 175 gigawatts of renewable energy generation by 2022, notes Firstpost.