US Replaces China as Top Clean Energy Investor

The United States has regained its place as the world's number one investor in clean energy, reclaiming the top spot from China, according to Bloomberg New Energy Finance. In 2011, U.S. total investment in clean energy surged to $55.9 billion, up 33 percent from 2010; China saw investment rise just 1 percent to $47.4 billion over the same time period. This is the first time that the U.S. - and not China - has held the number one spot since 2008. Bloomberg attributes the increase in U.S.investment in large part to support initiatives such as the federal loan guarantee program and a Treasury grant program which have now expired. The country's principal remaining support measure for renewable energy, the Production Tax Credit, is currently also scheduled to fall away at the end of 2012 unless it is extended. As a result, Bloomberg suggests that there may be a rush to get projects completed in 2012, followed by a slump in investment in 2013, if the credit does, in fact, expire. Vestas, the world's largest maker of wind turbines in terms of revenue, warned that 1,600 U.S. jobs were at risk if clean energy tax credits were not extended past the end of this year.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Solar FlexRack - TDP Turnkey Tracker

Solar FlexRack - TDP Turnkey Tracker

Solar FlexRack TDP™ Turnkey Trackers are the next generation, single-axis solar tracker solution, complete with comprehensive services and support. What sets this tracking solution apart is its updated tracking technology bundled with a full suite of best-in-class project services and support for commercial and utility-scale solar customers. The TDP Turnkey Tracker offers the lowest total cost solution by providing the only tracker in the industry that includes full design, installation, commissioning, and support services bundled in one contract. Solar FlexRack's TDP Solar Tracker solution is supported by an in-house team of experts that includes mechanical, structural, civil, electrical and geotechnical engineers and geologists. To learn more about Solar FlexRack's TDP Turnkey Tracker, one of the most cost-effective and comprehensive tracker solutions available, please visit: http://solarflexrack.com/products/tracker.