The U.S. government is creating a “boom and bust” in renewable energy investment that threatens to undermine its lead over China, the Pew Charitable Trusts said in a report.
U.S. investment reached $48.1 billion in 2011, largely in wind and solar power, the Washington-based research group said last night in a report based on Bloomberg New Energy Finance data. Those funds trumped the $45.5 billion China allocated to renewables, for lead for the U.S. since 2008.
“In the absence of long-term policy, it’s hard to see how the U.S. can grow significantly in the future,” [Phyllis] Cuttino said. “The boom-and-bust cycle of U.S. energy policy sends a very different signal to investors” from China.
Read the full article, U.S. Clean Energy Policies Risk Losing Lead Over China, on the Bloomberg website.