Asia leads as world's clean energy investment sags

Apr 17, 2013
Residents walk past a line of solar power panels installed for public electricity supply in Shenyang, in northeast China's Liaoning province on December 17, 2009. China and Japan stepped up spending last year in renewable energy but overall global investment declined due to economic and policy uncertainties in the West, a study said Wednesday.

China and Japan stepped up spending last year in renewable energy but overall global investment declined due to economic and policy uncertainties in the West, a study said Wednesday.

The annual report by the Pew Charitable Trusts found that China reclaimed from the United States its place as the nation with the most clean , which climbed 20 percent from a year before to $65.1 billion.

But worldwide investment declined 11 percent last year because of factors including in Europe, political sensitivities about energy prices in Germany and uncertainty over the extension of a tax credit in the United States, it said.

At the same time, the clean energy industry installed a record 88 gigawatts in capacity last year as prices for the technology declined.

Wind turbines dot the landscape on the outskirts of Dongying, in central China's Shandong province on December 10, 2009. China and Japan stepped up spending last year in renewable energy but overall global investment declined due to economic and policy uncertainties in the West, a study said Wednesday.

"That's the interesting thing—we had an investment decline but we still had more installed than we ever had," said Phyllis Cuttino, director of the clean energy program at the Pew Charitable Trusts.

"So the investment dollar is going further and that's particularly true with solar," she said.

For the second consecutive year, solar topped wind energy in investment as costs due to rapid declines in price.

But the lower prices, coupled with US and European charges of unfair Chinese government support, has also caused havoc for some . China's Suntech, once the world's largest solar panel producer, filed for bankruptcy last month.

The report said clean energy production in Japan rose by 75 percent last year as the government encouraged solar energy following the Fukushima following the March 2011 earthquake.

An earlier Japanese government set a goal of moving away from nuclear power, but Prime Minister Shinzo Abe, whose conservative Liberal Democratic Party won December elections, supports nuclear energy.

Clean energy investment by South Korea rose by 50 percent, although the total level remained near the bottom among Group of 20 economies.

Investment in also cooled in India and fell sharply in Indonesia, where the government put its focus on geothermal power.

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Lurker2358
not rated yet Apr 17, 2013
Once again, communist countries have an advantage, because they build their infrastructure according to what makes the most rational sense.

The solar panels in that photo, for example, are an excellent example of how energy is harvested where it is available, and could even serve a dual purpose of providing shade in a public place on a hot summer day. It looks like there would almost certainly be better ways to put the panels in the same place, but that's for engineers to figure out. The point is they do what is practical and necessary, not what some lobbyist demands, and not what the irrational, self-defeating NIMBY crowd demands.
kochevnik
not rated yet Apr 17, 2013
That's collectivist!!!!
Lurker2358
not rated yet Apr 17, 2013
That's collectivist!!!!


Sure beats giving $800 Billion to banking bailouts.

You could buy 266 gigawatts worth of solar panels (at the price of that time,) for the price of the bailout.
kochevnik
not rated yet Apr 18, 2013
That's $800 billion every YEAR since 2008
VendicarE
not rated yet Apr 18, 2013
For the cost of George Bush's war crimes in Iraq and Afghanistan, the entire U.S. electric power grid could have been converted to solar, and done so at retail prices.

That is the extent of Republican Treason against America.