The 2010 Global Cleantech 100 Report: California is the Star, But China May Be the Big Winner
The Cleantech Group has published its 2010 Global Cleantech 100 Report, which among other analysis, assesses the leading cleantech regions of the world. Although the data shows the United States continues to lead in alternative energy innovation, the balance of power is shifting.
According to the Cleantech report, California is the world's superstar region for new energy development and innovation. 32 of the top 100 rising cleantech businesses are located in the Golden State.
On the other hand, China has only four projects ranked in the top 100. Nevertheless, the Middle-Kingdom could be the sleeping giant in the cleantech race.
As Adam Vaughn of The Guardian points out, three of the ten largest wind turbine manufacturers are located in China; the country also boasts the world's first solar billionaire -- Shi Zhengrong, the founder of solar manufacturer, Suntech Power Holdings (NYSE: STP).
However, the most important symbol of China's emerging cleantech industry is the US$34.6 billion it invested in alternative energy industries last year. This was by far the most money invested by any government in clean energy, nearly doubling the U.S.'s investments.
Connie Hedegaard, European Commissioner for Climate Action Europe recently told a Harvard University audience, "Who is going to get the biggest slice of this pie? A global competition is already well under way. And it is clear that China's huge ambitions make it a formidable competitor for both Europe and the US."
Nathanael Baker is the Managing Editor of EnergyBoom. He has researched and reported on the issues of renewable energy, sustainability, and climate change for over two years. He has provided research to the New York Times and The Economist, as well as being published on different media outlets including, The Energy Collective.
Energy Boom content is for informational purposes only and is not intended to be advice regarding the investment merits of, or a recommendation regarding the purchase or sale of, any security identified on, or linked through, this site.
