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China Now Leads in Clean Energy Investments

Will new Obama proposals help U.S. regain lead?

by on Mar.30, 2011

As President Barack Obama exhorts Americans to get behind a coherent energy policy, a new study shows the U.S. falling  behind in the race to develop new, clean sources of energy, according to a new study by Pew Charitable Trusts.

Last year, clean energy investment across the globe grew by 30%, to $243 billion last year, with China continuing to solidify its position as the world’s clean energy leader by investing a record $54.4 billion in 2010.

China’s investment represented a 39% increase from 2009, the new Pew Study said.  Germany was second in the G-20, up from third last year, after experiencing a 100% increase in investment, to $41.2 billion.

“The clean energy sector is emerging as one of the most dynamic and competitive in the world, witnessing 630% growth in finance and investments since 2004,” said Phyllis Cuttino, director of Pew’s Clean Energy Program.

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“Countries like China, Germany and India were attractive to financiers because they have national policies that support renewable energy standards, carbon reduction targets and/or incentives for investment and production and that create long-term certainty for investors,” she said.

The United States, which had maintained the top spot until 2008, dropped another rung in 2010 to third, with $34 billion invested.

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