China and India have topped the list of the most attractive countries for renewable energy investments, according to a list published by accounting giant Ernst & Young.

The list was part of a report entitled the “Renewable energy country attractiveness index”. China tops the list, followed by India. The USA comes in third place, with Germany and Australia taking the fourth and fifth positions, respectively.

The report noted that there had been a recent change in policy in the United States. Measures such as the Clean Power Plan have ended since the presidency of Donald Trump, with the long term policy implications for the renewable energy sector in the USA remaining unclear.

It drew attention to the incredible CNY2.5tn ($363bn) to be spent by China on renewable energy by 2020, which will create approximately 13 million jobs as well as half of the new generating capacity. In addition the report noted plans by China to launch a green certificate programme in July.

Under the programme operators receive certificates that prove they have successfully generated clean power.

India’s second place in the ranking was driven by what was described as a “combination of strong government support and increasingly attractive economics” noting that 10 gigawatts of solar capacity was added in the last three years.

Meanwhile Australia – not traditionally thought of as a hotbed of renewable activity – the closure of a number of coal fired plants was highlighted.