China Doubles Spending on Green Tech VS. USA

There have been some people in the green movement saying that China and it’s huge population have not been doing enough to help the environment, but this story points in the exact opposite direction.

In many academic, policy and business circles, the term “clean tech” is synonymous with renewable energy. While renewable energy technologies such as solar, wind and biofuel are a critical component of a more sustainable world, the race to lead in their development has the U.S. pulling up lame. Political games and malign neglect continue to stall comprehensive clean energy policy in the U.S., and the rest of the world is seizing the opportunity to shift the balance of green power.

A recently released Ernst & Young (E&Y) report on the attractiveness of renewable energy investment has China trumping the U.S. By almost doubling the U.S. in spending on clean energy projects, China took the reins as the world’s No. 1 country for investing in renewables. Other top-1o countries included European renewable energy stalwarts such as Germany and Spain, and India notably securing the 4th leading spot on the E&Y Index. With the ascent of China and India and a steadfast commitment to renewables throughout much of Europe, the U.S. may soon be left wondering what happened to its lunch.

read the rest of the story on reuters

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