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China outpacing the world in renewable energy investment

In the second quarter of 2010, China attracted $11.5 billion in asset-financing for clean technologies, more than Europe and the U.S. combined, according to Bloomberg New Energy Finance.

China Supplants U.S. at Top of Ernst & Young Ranking for Renewable Energy,  Bloomberg, By Alex Morales – Sep 9, 2010 China overtook the U.S. to lead a quarterly index of the most attractive countries for renewable energy projects for the first time, according to a list compiled by the global accounting firm Ernst & Young.

After sharing the lead with the U.S. in the first quarter, China moved ahead of the world’s largest economy to rank as the most appealing nation for investing in wind and solar power projects, according to the report released today. The move follows the failure of U.S. Congress to pass legislation that would have required utilities to use clean energy.

The Asian nation, the world’s biggest energy consumer, has set itself a goal of generating 15 percent of its electricity from renewable sources by 2020. It almost doubled consumer subsidies for renewable-power generation in the second half of last year to $545 million, the most recent period reported……In the second quarter of 2010, China attracted $11.5 billion in asset-financing for clean technologies, more than Europe and the U.S. combined, according to Bloomberg New Energy Finance.

China Supplants U.S. at Top of Ernst & Young Ranking for Renewable Energy – Bloomberg

September 9, 2010 - Posted by Christina Macpherson | China, renewable | antinuclear, climate change, energy efficiency, global warming, renewable energy, renewables, solar, wind