Business
        

Energy

China comes in first in clean-energy investment

Updated: 2011-03-29 16:05

(Agencies)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

China came in first and Germany second in clean-energy investment last year, while the United States fell one spot to third place, Reuters reported on Tuesday, citing a Pew report.

US investment in clean energy totaled $34 billion last year, the report "Who's Winning the Clean Energy Race" by Pew Charitable Trusts, an independent, nonprofit group. That was up 51 percent from the previous year but below the $54.4 billion invested by China and the $41.2 billion invested by Germany.

China and Germany have minimum clean-energy targets that helped them move ahead, Pew said.

Related readings:
China comes in first in clean-energy investment CEC calls for revised nuclear power goals
China comes in first in clean-energy investment Energy development plan to be fixed by March
China comes in first in clean-energy investment China aims 16% cut in energy consumption per unit of GDP
China comes in first in clean-energy investment China announces clean energy plans for next five years

Germany has had a long history of using feed-in tariffs to spur solar power and other alternative energy. Last year the prospect of reductions in the tariffs, under which renewable-power generators are paid a premium price for the electricity they produce, helped spur dramatic growth in solar, especially in small-scale rooftop projects.

The United States led the world in energy efficiency with $3.3 billion in investment.

It still led the world in venture capital and private equity investments in clean energy, which globally counted for $8.1 billion, up 27 percent from the year before.

Overall investments in clean energy, excluding research and development funding, in the Group of 20 major economies rose 33 percent last year to $198 billion amid recovery from recession, the report said.

Specials

Share your China stories!

Foreign readers are invited to share your China stories.

Fill dad's shoes

Daughter and son are beginning to take over the family business of making shoes.

Have you any wool?

The new stars of Chinese animation are edging out old childhood icons like Mickey Mouse and Hello Kitty.

Panic buying of salt
Earthquake Hits Japan
NPC & CPPCC sessions