"Add renewable energy to the list of industries in which China is now coming out on top of the U.S. While China is still home to thousands of pollution-spewing factories, it's also now churning out wind turbines and solar panels at a world-record pace...."
Fast Company magazine article on the 2010 Pew report:
http://www.fastcompany.com/1743133/china-clobbers-the-competition-in-this-years-clean-energy-race-with-544-billion-in-funding
The Pew Report from March 2010:
http://www.pewtrusts.org/uploadedFiles/wwwpewtrustsorg/Reports/Global_warming/G-20%20Report.pdf?n=5939
March 2011 Release by Pew:
http://www.pewenvironment.org/news-room/other-resources/investing-in-clean-power-329295
Latest report:
http://www.pewenvironment.org/uploadedFiles/PEG/Publications/Report/G-20Report-LOWRes-FINAL.pdf
"What is causing all the jockeying for leadership? The report confirms that national policy matters. Countries like China, Germany, Italy and India were attractive to financers because they have national policies that support renewable energy standards, carbon reduction targets and/or incentives for investment and production and that create long-term certainty for investors. However, there is ambiguity surrounding clean energy policies in the United States and the United Kingdom, which likely has caused investors to look elsewhere for opportunities.
Michael Liebreich, CEO of Bloomberg New Energy Finance, added, “The United States remains the global leader in clean energy innovation, receiving 75 percent of all venture capital investment in the sector, a total of $6 billion in 2010, but the U.S. has not been creating demand for deployment of clean energy. As a result it is losing out on opportunities to attract investment, create manufacturing capabilities and spur job growth. For example, worldwide, China is now the leading manufacturer of wind turbines and solar panels.” From Pew website.
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