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Pew sees shifting renewable energy sector

April 17, 2013 at 7:58 AM   |   Comments

WASHINGTON, April 17 (UPI) -- China emerged as a world leader in terms of attracting investors to its renewable energy sector by passing the United States, a Pew research report finds.

The Pew Charitable Trusts' report on clean energy found that China attracted $65.1 billion in renewable energy investments in 2012. That pushed the United States to the No. 2 spot with $35.6 billion. Germany ranked third with $22.8 billion. Only China posted a net increase in attracting investors to its renewable energy sector when compared to 2011 figures.

The Pew report found that technologies are shifting along with national investments.

"For the second year in a row, solar technologies attracted more financing than any other technology by a wide margin: $126 billion was invested in the sub-sector in 2012, or 58 percent of the G20 total," it said. "China, Europe, and the United States were top markets for solar investment."

All three of those regions have complained the solar market is unfair.

Pew said wind energy investments were down 14 percent in 2011 among the 19 major industrialized economies plus the European Union but still managed an overall total of $72.7 billion. G20 member the United States renewed a wind tax benefit through 2013.

Pew found that the renewable energy sector in 2012 grew globally by 88 gigawatts event though investments were down 11 percent to $269 billion from their 2011 totals.

Topics: G20
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