US grabs lead over China in clean energy race

Discussion in 'Energy' started by Matthew, Apr 12, 2012.

  1. Matthew
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    Matthew Blue dog all the way!

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    US grabs lead over China in clean energy race
    April 12, 2012 by Kerry Sheridan
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    The United States has regained the lead in the clean energy race, investing $48 billion last year to surpass China, which held the world's top spending spot since 2009, said a study Wednesday.

    The United States has regained the lead in the clean energy race, investing $48 billion last year to surpass China, which held the world's top spending spot since 2009, said a study Wednesday. The US surge in private investment was a 42 percent increase over 2010 and saw Washington maintain its lead worldwide in both venture capital and research and development cash, said the Pew Charitable Trusts annual report on clean energy.

    However, the US boom was largely driven by expiring tax incentives, highlighting "a persistent phenomenon in which the country fails to deploy into the marketplace the clean energy innovations it creates in the laboratory," it said.

    China, which fell to second, invested $45.5 billion last year, a one percent increase over 2010, but maintained its global lead in wind energy investment and in solar manufacturing, said the report.

    Experts say a key difference between the United States and China is in how they attract investment -- China by having solid green energy policies that reassure investors and the United States by offering tax breaks for investment.

    "China has been able to fuel its growth by having very consistent and long-term policies in place that really tell investors there is an opportunity for them to make a profit," said Phyllis Cuttino, director of Pew's Clean Energy Program.

    "The United States has no renewable energy target but they have decided to try and incentivize clean energy investment through a variety of tax incentives, tax credits, tax subsidies, loan guarantees," she told AFP.

    Some of those programs were instituted under the George W. Bush administration and some under President Barack Obama, she said.


    "What we saw this year was investors really rushed into the United States to take advantage of those tax credits before they expired."

    The Pew report, which focused on private investment in Group of Twenty (G20) nations, also found that total worldwide private investment rose 6.5 percent over 2010 to a record level of $263 billion.

    "Germany, Italy, the United Kingdom, and India were also among the nations that most successfully attracted private investments last year," it said.

    Germany ranked third in 2011 after soaring to second place in 2010 as it ramped up both solar and wind power. Private investment dropped five percent last year compared to 2010.

    "Germany now obtains more energy from renewable sources than it does from nuclear power, coal, or natural gas," said the report, adding that Italy has also surged, surpassing Germany's deployment of 7.4 gigawatts (GW) of solar.

    Italy installed eight GW of solar energy nationwide and investments grew 38 percent to $28 billion, offsetting declines in other parts of Europe as the region struggles with a troubling debt crisis.

    "Europe has been a traditional leader, in terms of attracting private investment. Last year they attracted $99 billion in private investment as a region," said Cuttino.

    "But Asia and Oceania is a region of the world that is quickly growing so we keep thinking the center of the clean energy economy is moving to this region. They were second in the world attracting $71 billion."

    India had the highest rate of growth among G20 nations as investment rose 54 percent to $10.2 billion, largely driven by its National Solar Mission that aims to install 20 GW by 2020.

    Japan saw a 23 percent rise to $8.6 billion dollars "and we think there is going to be more growth in Japan as they kind of move away a bit from nuclear power," added Cuttino.

    Australia also saw private investment rise 11 percent to $4.9 billion, with four billion of that sum going toward small residential solar projects.

    "They have a newly instituted carbon policy and that is the third highest level of investment per GDP (among G20 countries), so they are doing quite well," said Cuttino.
    US grabs lead over China in clean energy race
     
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  2. Katzndogz
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    This is about the most misleading article that's come along in a while. If anything, the US is winning the war to be stupid by throwing away 48 billion dolllars.
     
  3. Old Rocks
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    Interesting the number of times that we have seen people stating on this board that Germany and Europe are moving away from renewables when just the opposite is true. Good article.
     
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  4. whitehall
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    Years ago the US won the "space race" by landing on the moon. What the hell is a "clean energy race" and how do you win it? Have Americans become so ignorant that they think the country that spends the most on useless propaganda projects is "winning the race"? How absurd.
     
  5. Old Rocks
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    You win it by having renewable energy in place as we run out of cheap fossil fuel. About half a century left.
     
  6. whitehall
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    Sorry rocky but you are living in a left wing propaganda dream world. There ain't no substitute for fossil fuel and the Country formerly known as the USA will cease to exist by the time the left wing expends all it's treasure in a search of the holy grail of alternate fuel. Maybe that's the plan.
     
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    We are outspending China on clean energy tax incentives and such. We will still buy much of our clean energy tech from China.
     
  8. Matthew
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    AWEA: Wind power accounted for 35% of new capacity in 2011


    AWEA: Wind power accounted for 35% of new capacity in 2011 - Power Engineering
    The American Wind Energy Association's (AWEA) 2011 Annual Market Report reveals that the U.S. wind industry installed 6,816 MW in 2011, a 31 percent increase from 2010. U.S. wind installations accounted for 2.9 percent of electric power generation in 2011 and total 46,916 MW to date.

    In 2011, wind power continued its trend as the No. 2 source of new electric capacity at 35 percent, still behind natural gas.

    “Low natural gas prices have made us leaner and meaner and continue to be a driver to make us even more competitive,” said Denise Bode, CEO of AWEA, during a call with reporters.

    In 2011, more than 75,000 people were employed in the U.S. wind energy sector, including 30,000 jobs in the manufacturing sector.

    South Dakota and Iowa lead a record five states that received more than 10 percent of their electricity from wind in 2011. Other states in the top five were North Dakota, Minnesota and Wyoming.

    National turbine manufacturing continued to expand in 2011, and the U.S. is now home to 23 turbine manufacturers. This number reflects the overall growth of the American wind industry, as the U.S. had only five turbine manufacturers in 2005, said Elizabeth Salerno, director of data and analysis for AWEA. “As the market expands, we’re getting more companies involved.”

    The size of turbines is also increasing, the report revealed. Average turbine size in 2011 was 1.97 MW, an increase from the 1.77 MW average size in 2010. In 2011, a total of 8,750 MW of turbine orders was placed.

    The developers with the most 2011 installations were NextEra Energy (NYSE: NEE), Iberdrola and EDP. Xcel Energy (NYSE: XEL) was the electric utility to add the most wind capacity to its portfolio in 2011.

    There are currently more than 8,300 MW of wind energy projects under construction, reflecting an annual growth rate of 35 percent year after year for the past five years. In 2012, Kansas is expected to install the most wind capacity, with a projected 1,189 MW. Following Kansas is Texas, with 857 MW expected to be installed this year.

    The greatest concern to the U.S. wind power market is the scheduled expiration of the Production Tax Credit (PTC) at the end of this year. Wind turbine manufacturers have not yet received any orders for 2013 projects because of the uncertainty surrounding the PTC, Salerno said.

    A House bill seeking to extend the existing PTC for wind energy (H.R. 3307, the “American Renewable Energy Production Tax Credit Extension Act”) has garnered the support of 90 cosponsors. Extension legislation was introduced in the Senate on March 15 by seven senators.

    The report can be purchased by interested parties here.
     
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    Link?
     
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