Renewable Energy Performance Index 2023

Today we are launching the first Renewable Energy Performance Index to help companies with their internationalization in the area of wind and solar energy.

Here are the main takeaways:

Europe showcased exceptional performance by securing the top 10 positions in the Index. Countries like Denmark (Rank 1, Score 0.78) and Germany (Rank 5, Score 0.56) lead in solar and wind energy even as the region grappled with a notable decrease in renewable energy production last year, exacerbated by the energy crisis brought on by the war in Ukraine.

: Ranked 21st (Score 0.37), the US shows a mixed approach to renewable energy, with states like Vermont reaching 99.7% renewable energy generation. However, states like West Virginia and Delaware lag with less than 10% renewable energy usage.

China: Despite being a leader in the size of green energy generation, China (ranked 23rd) also holds the title of the world's biggest polluter. Its CO2 emissions skyrocketed from 489 million tonnes in 1965 to an overwhelming 10,550 million in 2022.

The global energy scene is heavily skewed towards fossil fuels, which comprise 82% of total consumption. Oil is the predominant source at 32%, while renewables like hydropower, wind, and solar contribute 7%, 3%, and 2%, respectively.

In stark contrast to the consumption pattern, financial allocations reveal a troubling trend. The renewable sector, needing $266 trillion for a green transition, is overshadowed by substantial oil and coal subsidies investments. This disparity in funding allocation significantly hinders meaningful climate change mitigation efforts.

Read the full Index here: https://coincub.com/ranking/renewable-energy-performance-index-2023/

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