For the first time, China led the United States and other G-20 members
in 2009 clean energy investments and finance, according to data
released today by The Pew Charitable Trusts. Last year, China invested
$34.6 billion in the clean energy economy – nearly double the United
States’ total of $18.6 billion. Over the last five years, the United
States also trailed five G-20 members (Turkey, Brazil, China, the
United Kingdom, and Italy) in the rate of clean energy investment
growth.



In href=”http://www.pewtrusts.org/uploadedFiles/wwwpewtrustsorg/Reports/G
lobal_warming/G-20%20Report.pdf” target=”new”>Who’s Winning the
Clean Energy Race? Growth, Competition and Opportunity in the World’s
Largest Economies, Pew examines key financial, investment and
technological trends related to G-20 members and the clean energy
economy. The report tracks and measures global investment activity –
ranging from venture capital, initial public offerings from companies
seeking to expand, mergers and acquisitions and lending for large-
scale projects – in this sector. Pew found that the global clean
energy economy has experienced remarkable growth:

• Globally, clean energy investments have increased 230 percent since
  2005.
  
• Investment by nearly all G-20 members grew by more than 50 percent
  over the past five years.
  
• Despite a worldwide recession, global clean energy investments
  reached $162 billion in 2009.
  
• G-20 members accounted for more than 90 percent of worldwide clean
  energy finance and investment.
  
• More than 250 gigawatts of renewable energy generating capacity
  have been installed around the world, producing six percent of global
  energy.
  
• Global clean energy investments are projected to reach $200 billion
  in 2010.

“Even in the midst of a global recession, the clean energy market has
experienced impressive growth,” said Phyllis Cuttino, who directs the
Pew Environment Group’s Global Warming Campaign. “Countries are
jockeying for leadership. They know that investing in clean energy can
renew manufacturing bases, and create export opportunities, jobs and
businesses.”



Countries with strong nationwide policy frameworks, including
renewable energy standards, carbon markets, priority loans for
renewable energy projects and mandated clean energy targets, such as
China, Brazil, Spain, United Kingdom and Germany, have the most robust
clean energy sectors as a percentage of their economies. Countries
without such policy frameworks including the United States, Japan, and
Australia lag behind.



The United States’ clean energy finance and investments lagged behind
10 G-20 members in percentage of gross domestic product. For instance,
in relative terms, Spain invested five times more than the United
States last year, and China and the United Kingdom three times more.



The United States did lead G-20 members in venture capital and private
equity investments associated with technology innovation. However, it
trailed in 2009 asset financing, with only $11.2 billion, while China
led with $29.8 billion. Asset financing serves as a key barometer of
clean energy deployment, job creation and business growth.



Pew published Who’s Winning the Clean Energy Race? to highlight
how G-20 members are participating and where they rank in the clean
energy economy. Investment data was compiled and reviewed by Pew’s
research partner, Bloomberg New Energy Finance.


Source: Clean Edge News