Pew report on Clean Energy Investment finds the US falling behind

 

 

Credit: Pew 2010 report "Who's Winning the Clean Energy Race"

 

If you haven’t already heard about this through The Intersection blog, the Pew Charitable Trusts just released an updated report on “Who’s Winning the Clean Energy Race.” Personally, I hope that all the G-20 countries will invest heavily in clean energies so the world can collectively “win”, but if we need a little competition to get people movin’ then I’m all for it. America seems to respond to competition better than long-term strategic goals alone (remember Sputnik).

It was promising to see that the clean energy economy is rapidly growing (investment growth of 230 percent since 2005) and fared better than other investments during the recession (declining only 6.6 % in 2009).  Previously, Pew reported that “jobs in the clean energy economy grew at a national rate of 9.1 percent, while traditional jobs grew by only 3.7 percent between 1998 and 2007.”

The newest report emphasized that in 2010, the US fell behind not only China in clean energy investment ($34 billion compared to $54.4 billion), but also Germany with $41.2 billion invested. Germany leads in solar investment, while China and the US are most invested in wind (see the accompanying graph).

To quote the Pew report:

investors have noted ongoing uncertainty in United States policy as a key reason that capital is sitting on the sidelines, or looking for certainty and opportunity abroad. Concerns include a lack of clarity on the direction of energy policy, uncertainty surrounding continuation of key financial incentives (e.g., production and investment tax credits), and disproportionate government supports for century-old fossil energy sources.

Sounds like a little clean energy leadership from US law-makers could go a long way…

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One thought on “Pew report on Clean Energy Investment finds the US falling behind

  1. Bradley MacLeod Post author

    You can appeal to the Administration’s Energy Secretary, Steven Chu on how they should approach the issues of reducing dependence on foreign oil as well as how to balance the increase in domestic energy supply with the waste of the overall energy consumption:

    http://www.whitehouse.gov/advise?utm_source=033111&utm_medium=intro&utm_campaign=daily

    This won’t directly fill our energy policy gap, but fixing this problem will require support from the executive branch.

    Reply

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