Monday, April 30, 2012

U.S. Clean Energy Policies Risk Losing Lead Over China

The U.S. government is creating a “boom and bust” in renewable energy investment that threatens to undermine its lead over China, the Pew Charitable Trusts said in a report.

U.S. investment reached $48.1 billion in 2011, largely in wind and solar power, the Washington-based research group said last night in a report based on Bloomberg New Energy Finance data. Those funds trumped the $45.5 billion China allocated to renewables, for lead for the U.S. since 2008.

The jump to the top of the G-20 ranking followed developers’ efforts to finish projects before incentives expire. With China taking on long-term renewable energy targets and an American tax-break for wind lapsing in 2012, the U.S. again risks losing its edge, said Phyllis Cuttino, Pew’s clean energy director.

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