China tops global clean energy table
China remains the world’s leading investor in low-carbon energy
technology, a global study has shown.
The table, published by the US Pew Environment Group, showed that the
Chinese invested $54.4bn (£34.1bn) in 2010, up from $39.1bn in 2009.
While the US saw investment increase by 51% to $34bn, it still
slipped from 2nd to 3rd in the ranking, behind Germany’s $41.2bn.
However, the UK slipped outside the top 10 as investment fell by 70%
in 2010.
Globally, the sector - which does not include nuclear power -
attracted $243bn of investment, a 30% increase from 2009 and a whopping
630% rise since 2004.
The authors also said that 40 gigawatts (GW) of wind and 17GW of
solar energy were installed during 2010, taking the global clean power
capacity to 388GW.
The report Who’s Winning the Clean Energy Race, using data compiled
by Bloomberg New Energy Finance, examined the clean energy sector’s
investment and technological trends in the G20 leading economies.
“Looking at global trends, the solar sector experiences the strongest
growth among the various technologies,” observed Michael Liebreich,
chief executive of Bloomberg New Energy Finance.
“Declining prices and generous government support in key countries
helped the solar sector achieve 40% of total clean energy investment in
2010,” he added.
The report outlined that as well as attracting the most investment,
China was also the world’s leading producer of wind turbines and solar
energy units.
The authors also pointed out that the country in 2009 overtook the US
as the nation with the most installed clean energy capacity.
In terms of year-on-year growth, Argentina topped the rankings as it
saw investment grow by 568% in 2010 compared with 2009.
Regionally, Europe remained the largest recipient of investment,
attracting $94.4bn of investment. Asia/Oceania was the second most
attractive region for investors, securing $82.2bn.
Explaining the UK’s slip in the rankings, Liebreich suggested that it
was a result of “policy uncertainty during a substantial part of the
year”.
In May, the UK general election resulted in a coalition government
involving the Conservative Party and the Liberal Democrats.
-BBC |