While the U.S. has been burdened by recession woes and policy worries, China has surged ahead with renewable energy. That’s the word from Ernst & Young, which recently published a report entitled Renewable Energy Country Attractiveness Indices, surveying 30 countries.
This quarter, China blew past every other country in the world in terms of wind power, with record spending that represented nearly half of all funds invested in new wind projects globally, laying out around $10 billion out of a global total of $20.5 billion. The U.S.–which was top dog on wind power indices between November 2006 and May 2010–now trails five points behind the People’s Republic, thanks to the continued repercussions of the financial crisis, low gas prices and the uncertain medium-to-long term environmental policies in the face of the mid-term elections.
Ben Warren, Ernst & Young’s UK Energy and Environmental Infrastructure Advisory Leader, said, in a statement, “”The level of wind energy being deployed in China shows what can be achieved with a carefully planned energy and industrial policy that elevates cleantech to a national strategic level.” He also highlighted the Chinese solar industry as also a fast mover in the global market place.
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