China, Germany Outpace U.S. in Investments in 'Green' Energy

China and Germany are running far ahead of the United States when it comes to investing in global clean energy projects investments, according to a new report by the Pew Charitable Trusts.

China and Germany are running far ahead of the United States when it comes to investing in global clean energy projects investments, according to a new report by the Pew Charitable Trusts. The report found that China last year poured a record $54.4 billion into clean energy investments in 2010 (a 39 percent increase from 2009),followed by Germany with $41.2 billion (a 100 percent increase). In the United States, 2010 saw clean energy investments grow to $34 billion, up 51 percent from 2006.

According to the report, the U.S. position appears to be "eroding" for a variety of reasons, including concerns by potential investors about a lack of clarity on energy policy, uncertainty surrounding continuation of key financial incentives such as production and investment tax credits, and "disproportionate" government support for fossil fuel sources.

"Stimulus funding that helped the clean energy industry recover from sharp recessionary declines will expire this year, and there is little indication of any significant policies or incentives to fill the gap in the near future," the report says.

Global clean energy finance and investment grew significantly in 2010 to $243 billion, a 30 percent increase from the previous year. China, Germany, Italy, and India were among the nations that most successfully attracted private investment, the report said.

The report is available online at this link. 

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