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Pew: U.S. beating China in solar trade

March 7, 2013 at 8:03 AM   |   Comments

PHILADELPHIA, March 7 (UPI) -- The Pew Charitable Trust said the U.S. solar energy equipment sector has a $913 trade surplus with China.

A report from Pew said that clean energy forms an extensive part of the lucrative trade relationship between China and the United States, the world's two leading economies.

"Clean energy is a recent contributor to the overall U.S.-China trade relationship as renewable and advanced energy systems have emerged as a global priority for economic progress, energy security, and environmental protection," the report said.

Pew said solar energy products made up the largest component of bilateral trade in the renewable energy sector. Combined, the countries swapped more than $6.5 billion worth of solar products and services in 2011, the last year for which figures were available.

Bankrupt solar company Solyndra last year sued its Chinese rivals, saying they're to blame for its failure. The European Union is investigating allegations that Chinese companies were selling solar products in the eurozone at below market cost.

U.S. officials placed higher tariffs on Chinese solar-related goods last year after an investigation into alleged unfair trading practices.

Nevertheless, Pew said the United States was coming out ahead in solar energy trade.

"On a net basis, the United States enjoyed a $913 million surplus in the solar sector," the report read.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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