Study: China Beats U.S. for the First Time in Clean Energy
April 23, 2013 11:41 AM
comment(s) - last by
China is spending nearly three times as much on clean energy as the U.S.
Whether it's the
, China has either surpassed the U.S. or is expected to surpass the U.S. in many sectors. According to
a new report
[PDF] by the non-partisan
Pew Research Center
, clean energy is no exception to this trend; 2012 marketed the first year China assumed the title of king of clean energy, bumping the U.S. down the stack.
The U.S was clean energy's "biggest loser", according to the Pew report, with American clean energy investment (which excludes research and development spending) falling to $35.6B USD in 2012 -- a 37 percent plunge. That fall helped trigger an 11 percent decline in global spending, which dipped to $269B USD in 2012.
Meanwhile in China the opposite was happening. Owing to the strong growth, Asia's clean energy sector grew 16 percent as the global market contracted. Buoyed by China, clean energy investment in the sector soared to $101B USD last year -- 42 percent of the global total.
Fueled by China, Asia became the top clean energy region in 2012. [Image Source: PRC]
The Pew report comments:
The competition among countries for clean energy leadership is resulting in a reshuffling of the old order. In 2012, China advanced its position as the epicenter of clean energy finance, attracting $65.1 billion in investment, 20 percent more than in 2011 and an unsurpassed 30 percent of the G-20 total. It garnered 25 percent of all solar energy investment, setting a one-year record with $31.2 billion invested. China also accounted for 37 percent of all wind energy investment ($27.2 billion) and 47 percent of the investment in the “other renewable energy” category ($6.3 billion) that includes small hydro, geothermal, marine, and biomass.
All told, 23 GW of clean energy generating capacity was installed in China in 2012.
Although the United States invented many of the leading clean energy technologies, it continues to underperform in investment and deployment relative to the size of its economy and its history in the field.
China has been
spending big on nuclear
solar power installations
Chinese windmills turn on a hillside. [Image Source: Thinkstock]
Aside from China, developing nations also showed strong growth. Nations outside the pack of the world's twenty richest nations -- the so-called Group of 20, or G-20 -- saw roughly $20B USD in green energy spending, a 50 percent rise. Solar and other technologies are increasingly being considered to provide low-cost power in remote regions.
Speaking of solar, that's one bright spot amid the general decline in investment. With heavy investment in small, residential projects, solar only declined 1.6 percent to $76.8B USD in 2012. A record 3.2 gigawatts (GW) of solar power was installed in the U.S. last year. Residential solar saw a 42 percent growth.
The U.S. and others have long cited China
as the world's biggest polluter
. Now it can revel in the distinction of being the "greenest" power-producing superpower.
Pew Research Center [PDF]
This article is over a month old, voting and posting comments is disabled
RE: The sky is falling... I mean the USA is falling.
4/23/2013 8:00:42 PM
There's no indication that it will ever get better. The current trajectory is ugly, but it's better than making it worse.
The bandaid has already been ripped off. Private debt growth has been a crutch for the US economy for 25 years before the recession. Whatever high income earners didn't want to spend/invest was put in bank accounts (or near equivalents), and it was the banks' responsibility to lend all of it back out so that the economy didn't stagnate.
It too much now. The banks have proven they can't lend that much without screwing up, and even if they were less greedy/deceptive, IMO it's an impossible task anyway. Even with with near 0% interest rates, people with money continue to save as opposed to consuming.
Without more consumption from those who can afford it, there will be no reason to ramp up hiring for current production and no reason to ramp up investment for future production. That's the bottom line.
Lower gov't spending and does nothing to solve this fundamental demand issue in the short or long term; in fact, it makes it worse.
RE: The sky is falling... I mean the USA is falling.
4/27/2013 8:14:04 AM
Your line of reasoning is the exact reason the economy in the US is not recovering. Government does not create jobs or stimulate the economy. Every dollar the government grabs from someones paycheck shrinks the economy in the private sector through loss of spendable income by the person who actually earned the dollar. Government taxation and spending is a drain on every aspect of the economy with no benefit to anyone but government workers. There is no expansion of the private sector, nor will there be, until government stops stealing private cash and lets the people who earned it go out any buy products they need.
It is absolutely mind boggling that people buy into this ridiculous idea that government taxation and borrowing (debt) is somehow going to make anything better. Nothing will get better in the US until government spending and taxation are both reduced dramatically.
"Can anyone tell me what MobileMe is supposed to do?... So why the f*** doesn't it do that?" -- Steve Jobs
China's Turns on World's Longest High Speed Rail Conduit
December 27, 2012, 12:02 PM
U.S. is Only 3 Years Behind China in Nuclear Reactors Courtesy of New Approval
December 23, 2011, 7:09 PM
China is Now the World's Largest Smartphone Market
November 23, 2011, 4:10 PM
Chinese Government Commits to World's Largest Solar Power Project
September 9, 2009, 8:32 AM
China Looks to Outpace U.S. in Wind Power
July 29, 2008, 10:15 AM
Smartphone STD Scanner Dongle Can Detect HIV in Just 15 Minutes
February 26, 2015, 11:04 AM
Bill Gates Plugs GMOs to Reduce Starvation in Africa
February 24, 2015, 10:12 PM
Cool Nature Video: Crazy Coconut Octopus Braves Dry Land to Capture Crab
February 24, 2015, 4:18 PM
MIT Creates Injectable Self-Healing Nanoparticle Hydrogel for Cancer Treatment
February 23, 2015, 9:37 AM
Amp EVs' Workhorse and HorseFly Duo Challenge Amazon to Delivery Drone Duel
February 20, 2015, 3:56 AM
DARPA Awards Boeing Contract to Test Jet Based Satellite Launches
February 19, 2015, 11:30 AM
Most Popular Articles
Modern Glass (Windows 7 Aero Glass + Modern UI) Style is Coming to Windows 10
February 19, 2015, 1:05 PM
Amid Tight Race w/ Evernote, Microsoft's OneNote Goes (Even More) Free, Adds Fresh Features
February 23, 2015, 11:15 AM
Quick Note: Microsoft Gives Dropbox Users Extra 100 GB of Free OneDrive Storage
February 20, 2015, 9:48 AM
EDITORIAL: Board Wants to Anoint America World Police w/ Global Warrant Power
February 20, 2015, 9:10 AM
NVIDIA Bows to Outraged Overclockers, Will Restore Feature in Upcoming Driver
February 23, 2015, 12:30 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information