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James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

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U.S. Clean Energy Investment Reached $48 Billion in 2011

U.S. Clean Energy Investment Reached $48 Billion in 2011

According to a report from PEW Environment the United States attracted the most clean energy investment in the world in 2011. The US received $48 billion in venture capital, private equity and R&D money last year; mostly due to the investors trying to take advantage of the stimulus programs before they expired at the end of the year.

The investment was 46 percent larger than in 2010, and helped the construction of 6.7 gigawatts of wind turbines and more than 1 gigawatt of solar installations.

 China attracted the most in 2009 and 2010, but only managed $45.5 billion last year.

Phyllis Cuttino, the director of PEW’s Clean Energy Program, said that “in 2011, the global clean energy sector grew again, the U.S. reclaimed its lead as the top destination for private investment, and consumers reaped the rewards of significantly reduced prices for clean energy technologies, such as solar panels, which are now nearly 50 percent cheaper than a year ago.”

The US now boasts 93 gigawatts of renewable energy capacity, second only to China with 133 gigawatts.

Ms. Cuttino also added that, “while China's growth may have been flat in 2011, it remains a formidable contender in the global clean energy race – leading the world in production of wind turbines and solar modules. Further, China has maintained strong, national clean energy goals, ensuring strong investment levels for the foreseeable future. The country has deployed an impressive amount of clean generating capacity.”

Following the U.S. and China in clean energy finance and investment are Germany, Italy, the United Kingdom, and India.

Total clean energy finance and investment grew to $263 billion in 2011.

By. James Burgess of Oilprice.com



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