While it’s no news that clean and renewable energy has become a driving force for global economic recovery, what is startling is that a recent report from the Pew Environmental Group indicates China has surpassed the U.S. to become the top investor in clean energy. At Copenhagen, China may have been reluctant to sign an international treaty that heavily restricts its carbon emissions, but on the flip side, private investors have been pouring money into clean energy in the country – to a tune of US $ 34.6 billion over the past five years, almost double the amount spent by the U.S!
India on the other hand ranked 10th among the G-20 group of countries with an investment of US $2.3 billion. In some ways, we lag far behind China who has also emerged as the No. 1 maker of solar cells for solar panels in recent years as well as the leader in wind-turbine production. With clean energy investments in Asia surging by 37%, riding on the China wave, it becomes imperative for India to consider steps to capitalize on this wave, rather than focusing on catching up with China.
The global clean energy race is on, and China is winning..…for now.
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This is interesting – doesn’t China have one of the largest carbon footprints in the world? And aren’t 16 of the top 20 most polluted cities in the world in China? I wonder where are all the money spent on clean tech is going…..
Check out this recent report by Prayag on the focus on renewable energy in India.
http://www.prayag.com/pdf/Renewable Energy Findings Mar 10.pdf
This is weird – China doesn’t actually care about the environment, but investmsnts from private parties and increasing demand for clean technology have made it the top investor in clean energy?
Why doesn’t happy accidents like this happen in India?