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U.S. retakes lead in clean energy investments from China – Pew
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11 Apr 2012
- Published on Wednesday, 11 April 2012 19:45
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The United States reclaimed the top spot from China in a global race to secure private clean energy finance and investment, according to a report from Pew Environment.
The United States brought in $48 billion in investments last year largely due to investors taking advantage of the country's stimulus programs before they expired at the end of 2011. The investments refer to combined venture capital, private equity and R & D money.
The figure surpassed that of 2009 and 2010 leader China, which attracted $45.5 billion in clean energy investments last year.
The amount is 42 percent bigger compared with investments for 2010, and it helped propel the addition of 6.7 gigawatts of wind and, for the first time, more than 1 GW of solar energy. That is enough power to supply 800,000 homes.
The total installed renewable energy capacity in the U.S. at the end of 2011 was 93 GW, second to China.
"In 2011, the global clean energy sector grew again, the U.S. reclaimed its lead as the top destination for private investment, and consumers reaped the rewards of significantly reduced prices for clean energy technologies, such as solar panels, which are now nearly 50 percent cheaper than a year ago," said Phyllis Cuttino, director of Pew's Clean Energy Program.
China, meanwhile, has a generation capacity of 133 GW from renewable sources, or 26 percent of the worldwide total, and is leading the world in attracting wind energy investment at $29 billion.
"While China's growth may have been flat in 2011, it remains a formidable contender in the global clean energy race – leading the world in production of wind turbines and solar modules," added Ms. Cuttino.
"Further, China has maintained strong, national clean energy goals, ensuring strong investment levels for the foreseeable future. The country has deployed an impressive amount of clean generating capacity."
Following the U.S. and China in clean energy finance and investment are Germany, Italy, the United Kingdom and India.
Total clean energy finance and investment grew to $263 billion in 2011, a 6.5 percent increase over the previous year. – EcoSeed Staff
