Pew report: China winning clean energy race

Global clean energy finance and investment grew in 2010 to a record $243 billion, a 30 percent increase from the previous year, according to a report Tuesday from The Pew Charitable Trusts.

China reported a record $54.4 billion in investments in 2010 — a 39 percent increase from 2009. Germany was second, up from third last year, after seeing a 100 percent increase in investment to $41.2 billion.

The United States, which had maintained the top spot until 2008, fell another rung in 2010 to third with $34 billion.

The United Kingdom experienced the largest decline among the G-20, falling from fifth to 13th. The report suggests that uncertainty surrounding clean energy policies in these countries is causing investors to look elsewhere for opportunities.

Italy attracted $13.9 billion in clean energy financing last year, improving its global standing to fourth, from eighth in 2009. Italy is the first country to achieve grid parity, or cost-competitiveness, for solar energy.

For the first time, India joined the top 10 ranking, attracting $4 billion, a 25 percent increase.

Read more in the Sacramento Business Journal.