17 Apr

China overtaking US in green energy research

Whoever invests in it, will own the profits from it down the road when everyone else is playing catch up or buying the technology from the person who invented it. Glad to see China taking cap-and-trade and a national carbon tax seriously.

“Green investments in China in 2012 rose 20% to $65 billion while they fell 37% in the U.S. to just under $36 billion.
‘Clean energy will be one of the biggest industries of the next 10, 20 years, and we’re handing it to China,’ says Ramez Naam, computer scientiss and author of the new book The Infinite Resource: The Power of Ideas on a Finite Planet. Green energy will ‘become a multi-trillion-dollar industry.’

China is not only spending more money on green energy, it’s also writing laws and changing regulations will help attract more of those green dollars in the future. China is launching a cap-and-trade program in two regions this June which will go national in 2015 along with a national carbon tax, says Naam. Such policies have been debated in the U.S. but not enacted into law.”

(Via China Overtakes U.S. to Lead Green Energy Investments | Daily Ticker – Yahoo! Finance.)