China leads world in clean energy investment
08:31, March 26, 2010
China is already becoming the world's clean-energy powerhouse, topping the United States and other economies in investment in wind turbines and solar cells, said a latest report by the Pew Research Institute.
For example, in 2009, Beijing's investment in researching and developing new green technology eclipsed any other major country, toppling the U.S. from the top spot for the first time in five years, the Pew report said.
The report warned that the U.S. is also on the verge of losing the top spot in terms of installed renewable energy to China.
Unless U.S. policies change to encourage more investment, the U.S. could miss its chance to lead the expanding clean-energy industry, says Phyllis Cuttino, project director at Pew.
However, the American entrepreneurial tradition and strengths in innovation give it the potential to recoup leadership, the Pew report said.
U.S. Energy Secretary Steven Chu said in a congressional testimony last year that the U.S. has fallen behind other countries in the race to be at the forefront of the clean-energy industry.
Although Chu said he was confident the U.S could make up the ground, he cited China as a formidable competitor in green energy development and utilization.
In recent years, China has emerged as the No. 1 maker of solar cells for solar panels and, most recently, as the leader in wind-turbine-making capacity. China's leaders have also set in motion plans to get 15 percent of the country's energy from renewable sources by 2020.
By People's Daily Online