China Overtakes US as Most Attractive Country for Renewable Energy For First Time
Steven Chu just said now is the US' Sputnik moment for clean technology, and here's some independent confirmation of that: Ernst & Young has just released a new Country Attractiveness Index for renewable energy and China has now overtaken the US for the top spot--which it held for most of the past five years. China now leads the United States by five points.One in Two Wind Turbines Installed in World is in China
We've seen this coming for some time. Ernst & Young says,
China's record spending on its wind industry this quarter represented nearly half of all funds invested in new wind projects around the world. Figures released for the second quarter of 2010 showed that China invested around $10bn in wind out of a global total of $20.5bn. Such heavy investment has ensured that approximately one in every two wind turbines to go live in 2010 will have been in China.
As for why China has been able to surge ahead, Ernst & Young cites China's "carefully planned energy and industrial policy that elevates cleantech to a national strategic level."
So, in other words, as the United States policymakers continue to debate amongst themselves whether or not to consistently and robustly support renewable energy and other cleantech investing at the national level, China has managed to strongly take the lead.
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More on Renewable Energy:
Steven Chu: China Giving U.S. a Clean Technology 'Sputnik Moment'
Good News: China's Renewable Energy Growth Now Outpacing Coal
China's New Renewable Energy Law Should Be A Wake Up Call For US
US Still #1 "Most Attractive" for Renewable Energy, But China is Catching Up