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Asia leads as world’s clean energy investment sags

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Posted April 19, 2013

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Residents walk past a line of solar power panels installed for public electricity supply in Shenyang, in northeast China’s Liaoning province on December 17, 2009. China and Japan stepped up spending last year in renewable energy but overall global investment declined due to economic and policy uncertainties in the West, a study said Wednesday.

China and Japan stepped up spending last year in renewable energy but overall global investment declined due to economic and policy uncertainties in the West, a study said Wednesday.

The annual report by the Pew Charitable Trusts found that China reclaimed from the United States its place as the nation with the most clean energy investment, which climbed 20 percent from a year before to $65.1 billion.

But worldwide investment declined 11 percent last year because of factors including economic woes in Europe, political sensitivities about energy prices in Germany and uncertainty over the extension of a tax credit in the United States, it said.

Wind turbines dot the landscape on the outskirts of Dongying, in central China's Shandong province on December 10, 2009. China and Japan stepped up spending last year in renewable energy but overall global investment declined due to economic and policy uncertainties in the West, a study said Wednesday.

Wind turbines dot the landscape on the outskirts of Dongying, in central China’s Shandong province on December 10, 2009. China and Japan stepped up spending last year in renewable energy but overall global investment declined due to economic and policy uncertainties in the West, a study said Wednesday.

At the same time, the clean energy industry installed a record 88 gigawatts in capacity last year as prices for the technology declined.

“That’s the interesting thing—we had an investment decline but we still had more gigawatts installed than we ever had,” said Phyllis Cuttino, director of the clean energy program at the Pew Charitable Trusts.

“So the investment dollar is going further and that’s particularly true with solar,” she said.

For the second consecutive year, solar topped wind energy in investment as costs due to rapid declines in price.

Read more at: Phys.org

 

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