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Page added on September 26, 2010

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China’s Clean Energy Future

China’s Clean Energy Future thumbnail

It’s not hard to sense that the United States isn’t the superpower she used to be.

From national and consumer debt to the stalled housing market, unemployment, energy dependence and a do-nothing-unless-it’s-for-reelection Congress, these past few years have made clear that we’d better get our act together… or risk being knocked from our global throne.

But being knocked we are — especially in the ubiquitous energy industry that powers the globe.

There’s no other way to say it: China is whooping our ass.
The jobs and investment we don’t have…

Are all going to China.

In a study out by Ernst & Young this month, China was ranked the most attractive place to invest in renewable energy, dethroning the U.S.

Last year, $35 billion in private money was invested in Chinese cleantech projects. The United States received under $19 billion.

According to Ethan Zindler, head of policy analysis at Bloomberg New Energy Finance: “Within the past 18 months, China has become the undisputed global leader in attracting new investment dollars.”

And it isn’t just Chinese money; dollars are pouring in from U.S.-based funds and individual investors buying Chinese ADRs.

Chinese companies will make 39% of the wind turbines sold this year; U.S. companies will provide 12%.

Chinese companies will make 43% of the solar panels; U.S. firms will make 9%.

Talk about job loss.

Even Moody’s — which was late to predict the world’s 2008 woes — is early to warn about this trend, saying the “countries that make the most investments will create the most jobs,” while noting the cleantech economy is growing three times as fast as the overall economy.

Indeed, China has made cleantech a vital part of its national strategy.

The Middle Kingdom has a national law requiring a certain amount of its energy to be produced renewably by 2020. The U.S. has no such law.

It also has a system, known as a feed-in tariff, that requires utilities to pay a higher rate for clean energy. The U.S. has no such law.

Energy and Capital



One Comment on "China’s Clean Energy Future"

  1. KenZ300 on Mon, 27th Sep 2010 12:53 am 

    The party of NO is supported by the oil and gas industry.

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