Apr 13, 2012 - The United States is winning the global clean energy race—at least in terms of luring investment in developing low-carbon technologies. But China appears to have vaulted past competitors to become the leading engine for green manufacturing jobs.
A new report from Pew Charitable Trusts, a Washington policy group, found that the United States took in $48.1 billion in public and private financing in renewable energy technologies last year, up 42 percent from 2010. That catapulted America past all other G-20 nations for the first time since 2009, when Pew began ranking the world's leading economies on their clean energy investments. In its first report, the United States was second to China. The next year it slipped to third behind China and Germany.
Overall global investment in clean energy reached a record $263 billion in 2011, according to the Thursday study, "Who's Winning the Clean Energy Race?" Bloomberg New Energy Finance, a London research firm, compiled and reviewed data for the report.
The United States attracted 70 percent—or $6 billion—of all venture capital and private equity investments made in solar energy, wind power, electric vehicles and other forms of clean technologies. It also led the world in research and development funding, securing about a third of investments.
Still, Phyllis Cuttino, who directs Pew's clean energy program, is hesitant to crown America champion of the global clean economy. She said that compared to other countries, America spends more on developing and testing cutting-edge technologies but less in areas that create the most jobs—namely, manufacturing, installing and exporting goods like solar panels, energy-efficient lightbulbs and smart grid technologies. read more>>>
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