Pew Charitable Trusts has released a new report which details the progress made on the clean energy front during 2012. According to this report, China was the global leader in clean energy investments last year, attracting investments to the tune of $65.1 billion.
Most of the clean energy news that we hear about are related to U.S. or the European nations. So it is fairly surprising to note that China trumps the rest of the world in terms of clean energy projects and is presently leading the way.
During the year 2011, global clean energy investment reached $302 billion. But it was rather disappointing that this number slid down to $269 billion during 2012. Clean energy investments in U.S. and neighboring regions apparently declined while those in Asia and Oceania were on a rise.
In the last year, investment in Asia and Oceania rose by 16% and reached $101 billion, accounting for the lion’s share of the global clean energy investment. It is expected that China’s extra-ordinary performance in the sector will continue into 2013, given the fact that the country has huge energy needs and has been working extensively to develop resources in order to cater to those needs.
Meanwhile, the clean energy sector in the U.S. has been deemed ‘underperforming’ in this report, citing that the clean energy initiatives in the country often have to undergo a lot of political hurdles which often end up jeopardizing them. The report also highlights that the regulatory bodies in the U.S. are highly volatile, again as a result of the political environment.
Source: Pew Charitable Trusts