India is the world’s third largest investor in renewable energy
The country earned a score of 6.3 on a 10-point scale on the basis of its investment, partially usage or plans to use renewable energy in the near future—in a study by UK based analytics firm British Business Energy. The USA ranks first with a score of 7, followed by Brazil at 6.5.
India ranks third on renewable energy investments and plans, according to UK-based British Business Energy which also ranks the country as the world’s fifth largest energy economy by revenue.
The London-based analytics firm combined revenues of energy companies to calculate which countries make the most from the energy industry.
India earns energy revenues to the tune of $351 billion, against the world’s largest energy economy USA’s $1,234 billion. Other countries among top five are China at second place ($837 billion), Russia ($464 billion) and the Netherlands ($388 billion).
In the study, a total of 29 countries were analysed to find out which countries are leading the way for the energy industry. The countries were ranked by their revenue from energy companies, and in comparison to their GDP, the number of employees in the energy sector and a renewable energy score.
Among the top 10 countries which are investing in, partially using or have plans to use renewable energy in the near future, the USA ranks first with a score of 7. It is followed by Brazil with a score of 6.5 and India 6.3.
The Netherlands ranks first in terms of the energy industry’s contribution to gross domestic product (GDP), with almost half of its GDP (46.76%) coming from energy companies. It is followed by Russia at 29.41%. India ranks sixth with 13.25%.
Hong Kong leads in energy employment, with 18 jobs out of 1,000 being related to the energy industry. It is followed by Russia (with 17 energy related jobs per 1,000).