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China winning the clean energy export race

The Chinese clean energy technology production model is excellent, say analysts, who point out that it is now being exported around the globe.

China gives the world a sound – and clean – energy wake-up call, The Daily Maverick, 10 Sept 10, :Despite lingering Western hubris about China being the big lumbering lummox of the 21st century desperately playing catch-up, the world’s most populous nation is leaving the rest of world far behind in the race to create clean energy.

Ernst & Young’s renewable energy country attractiveness index has joined the ranks of organisations monitoring growth and investment in clean energy by the world’s leading countries, especially the US and G20 nations. And  E&Y has confirmed that China is top dog for renewable energy projects.

In 2009 the Pew Trust put China’s investment in a clean energy economy at $34.6 billion, almost double that of America’s $18.6 billion. Interestingly, the US has been trailing behind other G20 members such as Brazil, UK, Italy and Turkey in the rate of growth of clean energy investment for the last five years.

China spent $11.5 billion on clean technology in the second quarter of 2010 alone. It has announced an investment of $217 billion for the next five years and may have invested more than $650 billion by 2020.

The US, by contrast, has yet to even come up with a renewable energy standard, making China a slam-dunk for investors looking for the best place to pump money into clean, renewable technologies such solar and wind power…….

The Chinese clean energy technology production model is excellent, say analysts, who point out that it is now being exported around the globe. This is reminiscent of the way automobile manufacturing was turned on its roof by Asian countries some decades ago. And while other countries might fume that China is leading the race in clean technology innovation and finance, surely the environment will find the it all kinda cool. DM

The Daily Maverick :: China gives the world a sound – and clean – energy wake-up call

September 10, 2010 - Posted by | China, renewable | , , , , , ,

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