Countries all around the world are powering towards a zero-carbon future by embracing multiple renewable energy sources including solar, wind and geothermal; but a handful of countries are leading the charge to innovate change and protect the future.
A number of the largest economies are now looking towards cleaner sources to help reduce their reliance on high-polluting fossil fuels amid the energy transition, making them more attractive landing spots for renewables investment.
The US is the top ranked country for renewable energy investment due to President Joe Biden‘s administration and their aim to significantly increase federal investment in renewable energy in the US.
Scaling up on clean technologies is expected to play a key role in the nation cutting its carbon emissions by 50-52% by 2030 compared to 2005 levels.
The United States has continued to improve its standing as a leader in solar power by expanding its utility sector and residential market installations. Much of the increase is attributable to substantial government incentives given to the residential sector, which is a fast-growing market segment.
Germany is a world leader in renewable energy and in the first half of 2018 it produced enough electricity to power every household in the country for a year.
Clean energy delivered more than 47% of its electricity in 2020, as renewables continue to ramp up their stake in the nation’s energy mix following the planned phase out of its nuclear and coal power plants.
By 2030, 65% of Germany’s total electricity demand will be met by renewable power. The country will play a key role in helping the EU reach its 2050 carbon neutrality goal.
Due to their stable procurement mechanisms and long-term clean energy targets, France is one of the most attractive countries for renewable energy investment. Although the country still relies heavily on nuclear power, they are looking to ramp up the development of other low-carbon sources and renewable hydrogen- produced through wind and solar- as well as aiming to phase out coal fired power plants by 2022. As a country they have pledged a net-zero greenhouse gas emissions target by 2050.
The UK is helping lead the shift to a clean energy economy. In 2019, over 50% of electricity generated in the UK came from low carbon sources.
The UK is the first major economy to pass a net zero emissions law with a target to bring greenhouse gas emissions to net zero by 2050, while encouraging investment in low carbon technologies.
New opportunities for investment are emerging as UK energy becomes cleaner, flexible and more efficient.