Talking about the Pew study about “who’s winning the race” it appears China really has taken the lead now, even by global perception.
G-20 states have more than doubled their investment in the past 5 years, 90% of clean energy finance came from G-20 members. In China, such investments totaled $34.6 billion, while in the United States it totaled $18.6 billion.
“China is now clearly the world leader in attracting new capital and making new investments in this area,” Phyllis Cuttino said. In the past, the United States has been leading countries such as Turkey, Brazil, China, Britain and Italy in terms of clean energy development. Last year, however, U.S. investments into renewable energy technologies fell by 40%.
With the key barometer for clean energy operation, job creation and business growth being named by the study as asset financing. Of these, China had $29.8 billion. The U.S. had only $11.2 billion.
“The United States’ competitive position is at risk in the emerging clean energy economy,” said Phyllis Cuttino, director of the Pew Environment Group‘s Global Warming Campaign.
Right now about 6% of global energy demand is met through renewable energy. This percentage will increase significantly, and trend shows that countries with strong national commitments will lead this race. Countries with inconstant policies in the field came last, for example Japan or the U.S.
Even during recession, clean energy development was able to prove its relative strength.
“Countries are jockeying for leadership. They know that investing in clean energy can renew manufacturing bases, and create export opportunities, jobs and businesses,” said Mr. Cuttino.
Basically it’s up to decision makers and world leaders now to make the critical choice between passing the necessary federal policies and secure leading position in the world market, or else, loose out and watch China and other countries taking over.
Again, this is a great opportunity and not a thread!