Placing my bets on China who frankly will far outweigh advancement in many area's as they already are seeing opportunities where others ignored. Like investing in the African Continent in Infrastructure and more, bringing the people of into their consumer markets. They, and a few others, have also been building the experienced trades we once were known for, bringing along with that experience the innovations of the workers!
December 29, 2010 - China now stands alone as the most attractive market for renewable energy investment in the world, a position it had previously jointly held with the US, according to Ernst & Young's most recent Renewable Energy Country Attractiveness Indices report.
The news became political fodder in a US mid-term election year and has been highlighted as an example of the nation's failings. With US jobs at stake people are worried, and for good reason.
That's one way to look at it. Another is that China's rise offers a new and crucial opportunity. Paired, the countries can float a tremendous clean energy market that could buoy the industry worldwide – or sink it if they fail.
'Imagine a small canoe, barely above the waterline with two sumo wrestlers, China and the US, in it – one at each end,' says Elton Sherwin, senior managing director at California-based Ridgewood Capital and author of the book Addicted to Energy.
The rest of the canoe, he says, is packed full of people from all of the other countries. The two sumo wrestlers account for 42% of the world's energy demand, are the world's biggest coal consumers and the largest importers of oil. Both have aggressive goals to integrate renewable energy into their supply mix and they lead the way in wind power development. Last year China installed 13.8 GW of wind power, the US added 10 GW.
A recent criss-crossing of the globe by industry leaders and government officials from both nations demonstrates a heightened understanding of their paired potential and they have been meeting to investiagte joint green energy opportunities. China brings to the table its cheap manufacturing capability and the US its high tech know-how.
'We can't view this as one against the other. Over the past 12 months, partnerships and collaborations and deals from the manufacturing side all the way up to the development and installation side have really taken off. It makes a lot of sense. We are working together on the government side and private sector side to grow the pie and make it beneficial and profitable for businesses in the US and China,' said Foley & Lardner partner Jeffery Atkin. {continued}
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