Michele Kearney's Nuclear Wire: Global Clean Energy Investment Reached Record 243 Billion Dollars In 2010

Saturday, April 2, 2011

Global Clean Energy Investment Reached Record 243 Billion Dollars In 2010

Italy attracted $13.9 billion in clean energy financing last year, improving its global standing to fourth, from eighth in 2009. Italy is the first country to achieve grid parity, or cost-competitiveness, for solar energy.

by Staff Writers Washington DC (SPX) Mar 30, 2011 Global clean energy finance and investment grew significantly in 2010 to $243 billion, a 30 percent increase from the previous year. China, Germany, Italy and India were among the nations that most successfully attracted private investments, according to new research released by The Pew Charitable Trusts. China continued to solidify its position as the world's clean energy powerhouse. Its record $54.4 billion in investments in 2010 represents a 39 percent increase from 2009. Germany was second in the G-20, up from third last year, after experiencing a 100 percent increase in investment to $41.2 billion.
"The clean energy sector is emerging as one of the most dynamic and competitive in the world, witnessing 630 percent growth in finance and investments since 2004," said Phyllis Cuttino, director of Pew's Clean Energy Program. "Countries like China, Germany 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."
The United States, which had maintained the top spot until 2008, fell another rung in 2010 to third with $34 billion. The United Kingdom experienced the largest decline among the G-20, falling from fifth to 13th. The report suggests that uncertainty surrounding clean energy policies in these countries is causing investors to look elsewhere for opportunities.