By Rob Starr, Content Manager, Big4.com
According to a new Ernst & Young LLP report, Nevada and Massachusetts’ state renewable energy programs thrived this year, propelling the two into the ranks of top-performing states like California. Elsewhere in the rankings, California remains the renewable energy capital of the nation taking the top spot in the “All Renewables Index.” Colorado, Texas, New Mexico, and Massachusetts round out the top five, demonstrating the relative stability of state energy programs in the All Renewables Index and showing states that are well positioned to benefit from future investment.
In addition to looking at specific states and regions, the report highlights drivers within specific industries. For example, US wind installations are likely to surpass total installed capacity before the end of the year. With the Production Tax Credit (PTC) expiration and the 1603 Credit Termination Date looming, mid-year wind development surpassed that of the previous year as developers rushed to start projects. Additionally, the solar market is expected to continue to grow as a result of rooftop solar projects.
From start-ups to large corporations to national governments, organizations worldwide are embracing cleantech as an engine of growth, efficiency, sustainability and competitive advantage. As cleantech enables the transformation of a variety of industries to be part of a more resource-efficient and low-carbon economy, Ernst & Young sees innovation in technology, business models, financing mechanisms, cross-industry partnerships and corporate adoption.