The US leads the EY Renewable Energy Country Attractiveness Index (RECAI), with China and the UK ranking the most attractive markets for battery energy storage system (BESS) investment. This is largely due to a 30% tax credit under the Inflation Reduction Act (IRA). The US is followed by China with strong government support, subsidies and plans to cut BESS costs by 30% by 2025. The UK comes third due to its energy market design and a new energy bill classifying BESS as a generation asset. Investors in BESS are growing, with potential to play a key role in overcoming network gridlock challenges. The top ten also includes France, Australia, the UK, India, Denmark, Canada and Japan.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
