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China Surpasses US on Clean Energy Finance & Investments

March 29, 2010

MANCHESTER, N.H. - For the first time ever, China is in the lead worldwide when it comes to clean energy investments, according to a new report by The Pew Charitable Trusts that looked at all of the G-20 members.

Producing clean energy such as natural gas and solar and wind power means new jobs here in the U.S. and more investments from private industries, says Phyllis Cuttino, director of the Pew Global Warming Campaign. She says the report illustrated that, while the U.S. is still the leader in terms of technology and innovation, we lagged behind other nations such as Spain and China in terms of clean energy that we are producing here at home.

"The question for the United States is: Will it capitalize on its ingenuity, create the jobs and economic benefits that stem from increased deployment and clean manufacturing, or not?"

While Governor John Lynch has made clean energy a priority here in New Hampshire, John Woolard, the CEO of BrightSource Energy, says a national policy needs to be set in place,which would provide stability for investors.

"We never have certainty or predictability, we never have in the U.S. In fact, we've never had an energy policy; our policy has been to send a lot of money overseas and buy from people we don't like."

The Pew report found that globally, clean energy investments have increased 230 percent since 2005, despite a world-wide recession.

The Pew report, which is titled "Who's Winning the Clean Energy Race?", may be found at:
www.pewglobalwarming.org

Monique Coppola, Public News Service - NH