This just in: The United States is now second behind China as a recipient for green energy investment dollars.
A new report released on September 8th by Ernst & Young reveals China has taken the top slot from the U.S. as the best place to invest in renewable energy. The position swap has two sources: China’s increasingly ambitious green agenda, and the U.S.’s increasingly ho-hum one.
Here’s a quote from this report:
“The US dropped two points in the indices, to fall behind China, after a federal Renewable Energy Standard was not enacted this summer. Construction of new renewable energy facilities is expected to further slow down following the December 2010 expiration of an important deadline in the Treasury grant program with no assurance of renewal, generating investor uncertainty about the continuation of an effective incentive mechanism.”
If you remember, the indicated act was held up due to rejection of its “Cap and Trade” provision by the senate minority. Renewable energy is a no-brainer from a job creation/industrial re-boot perspective. The United States needs to be leading the way in this lucrative new industry. What the heck is going on here!!!!