According to a new report from Pew Environment Group, the
United States has reclaimed first place in the global clean
energy race. The U.S. has trailed China since 2009.
The U.S. invested $48 billion in clean energy in 2011, a
42 percent increase over 2010. Total U.S. installed
renewable energy capacity in the U.S. at the end of 2011 was
93 GW -- second to China.
"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," said Phyllis Cuttino, Director of
Pew's Clean Energy Program. "And yet, the yo-yo effect of
U.S. clean energy policy hurts the ability of the United
States to consistently compete and turn U.S.-led innovation
into manufacturing, deployment, and export opportunities.
Creative, stable and transparent policies remain a critical
signal to private investors."
For example, Treasury grants for solar have been allowed
to expire, and the Department of Energy's loan guarantee
programs have been cut. Also, the production tax credit
expires at the end of this year.
"Solar installations drove most of the activity last year
as the falling price of photovoltaic modules, now 75 percent
lower than three years ago, more than compensated for
weakening clean energy support mechanisms in a number of
parts of the world," said Michael Liebreich, CEO of
Bloomberg New Energy Finance, Pew's research partner.
Globally, investment in clean energy grew to a record
$263 billion in 2011, a 6.5 percent increase over the
previous year, according to the Pew Charitable Trusts.