China Leads Global Investment in Green Power
Posted by Kelly Smith on Wed, Apr 07, 2010
For five years running, the United States led the world in clean energy investment. However, a new study by the
Pew Charitable Trusts has revealed that China out-invested the U.S. by several billion dollars in 2009. Globally, $162 billion was invested in renewable energy in 2009. The U.S. invested $18.6 billion, while China surged ahead to $34.6 billion.
China's booming population and rapid industrialization has been a concern to environmentalists for years as China rapidly put new coal plants online. Currently, China is the world's leading emitter of carbon dioxide, and their demand for energy is increasing. It is very good news for our planet's health that China is now seeking to be a leader in eco-technology and pushing for stringent emissions controls.
Countries such as the United States, Australia, and Japan, which lack a national climate change policy, seem to be lagging behind countries with carbon mandates, such as China, Germany, Spain, and the United Kingdom, in both targets to reduce carbon emissions and investment in green energy. In the U.S., the combination of the recession and the lack of comprehensive climate legislation could be to blame for its fall from first place in the green power investment race.
In terms of actual production of renewable energy, though, the United States is still in first place with 52.2 gigawatts of electricity, which comes from a combination of green power sources. China is catching up with 49.7 gigawatts. Their green power push focuses mainly on wind power. Germany is not far behind the U.S. and China in terms of both investment in and production of green power.
Photo via Robert Thomson