This posting is fascinating. If these numbers are right, China is really steaming ahead of the US in many areas of green investment.
China out-greens America: The stats
Areas that may not be paying off big right now, whilst we are still in the oil age, but are surely the industries of the future.
Here’s an excerpt:
• China is targeting more of its stimulus money to green economy initiatives than the US. It is directing 34% of its stimulus spending to green economy initiatives versus less than 20% for US stimulus spending.
• China has surged ahead of the US in solar PV manufacturing capacity and now has more than five times the installed production capacity.
• China has more than tripled its target for wind power capacity to 100 gigawatts by 2020, likely making it the world’s fastest growing market for wind energy technology. It is aiming for an annual growth rate of 20% per year.
• China currently has 12 gigawatts of installed wind power, but that is set to grow to 20 gigawatts by next year. To put this in perspective this is around three times the projected increase in capacity (7GW) in the US for wind energy.
• Last year, China invested $35 billion in Smart Grid construction far out pacing US investment in upgrading its own aging and over taxed grid.