28 Nov '11, 5pm

China passes US in clean energy investment

"Our country is sitting on the sidelines as the equivalent of 16% of our GDP is up for grabs," says Joshua Freed, Third Way Vice President for the Clean Energy Program . Freed and his co-authors say China is adopting policies to slowly gain ground against the US in the areas of finance and innovation, particularly in clean energy. The report shows China has the highest public market financing in the clean energy sector, while the United States ranked third in total clean energy investment in 2010, behind China and Germany. In 2008, the United States ranked first. China has secured US$47.3 billion of asset financing in 2010 for clean energy projects, while the United States attracted US$21b in 2010. Some 60% of all clean energy technology IPOs in the world in 2010 were from Chinese companies, the analysis says. Meanwhile, Third Way cites data from Ernst and Young showing fo...

Full article: http://www.renewableenergyfocus.com/view/22298/china-pass...

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