The United States has regained the lead in the clean energy race, investing $48 billion last year to surpass China, which held the world's top spending spot since 2009, said a study Wednesday.
The US surge in private investment was a 42 percent increase over 2010 and saw Washington maintain its lead worldwide in both venture capital and research and development cash, said the Pew Charitable Trusts annual report on clean energy.
"The United States has no renewable energy target but they have decided to try and incentivize clean energy investment through a variety of tax incentives, tax credits, tax subsidies, loan guarantees," [Phyllis Cuttino] told AFP.
The Pew report, which focused on private investment in Group of Twenty (G20) nations, also found that total worldwide private investment rose 6.5 percent over 2010 to a record level of $263 billion.
Read the full article, US Grabs Lead Over China in Clean Energy Race, on the Google News website.