A decade ago, this must have been a luxury and an uncertain investment but now, the clean energy sector is constantly witnessing a growth with solar, wind, and other such renewable energy sources being affordable and desired by more and more countries across the globe.
Though ever since the starting of the clean energy movement, there has been a number of global downtimes in terms of economic slumber, debt crises of the continents, high industry competition and so on, still the data of 2012 said that the investment in the clean energy sector increased by five times over what was there in the year 2004. In the current times, records show that the investment in the clean energy sector has been about $90 billion triennially. It is now attracting private finances and individuals are ready to take it up as a business. Governments of many countries are coming up with schemes and packages which can increasingly encourage people to opt for clean energy means. Altogether there is an increasing wish to secure a future which is both environmental and economy friendly.
In the ongoing race of setting up clean energy in the country, the reports of The Pew Charitable Trust have come up with some competitive information. In the reports, it shows that China continues to be a front runner in the clean energy race. It says that China leads the figures with an investment of 29% in establishing clean energy technologies in 2013. This is higher than that of developed countries like US. In addition, keeping in mind its huge contribution in manufacturing of solar and wind energy and also with reference to the growth of domestic market, China is being foreseen to remain the world leader in the race for clean energy in the upcoming years too.
Amongst the renewable energy productions, China, with its largest number of solar PV installations, has a huge solar energy development unit which is bigger than that of US. In 2012 China is known to have attracted about $65.1billion as investment in clean energy development amongst all the G-20 countries. It is known to have directed an amount of 47% of the G-20 investments in other renewable sources like hydro, marine, geothermal and also biomass energy. The country is thus maintaining a long term planning approach and has the strongest clean energy deployment forces.
However, having been touted as the winner in the clean energy race there are some other races too where China is a front runner and as a result of which its achievements in the clean energy sector is getting under shadowed. Reports show that China is also has a high consumption of coal and the deaths by pollution in China also bring it under the front runners in the competition of pollution. The World Bank has to pay China $300 billion every year to meet the health costs and also the costs coming from the damage of properties due to pollution. Like it is ahead of US in the clean energy race, it is also ahead of US in the emission of carbon dioxide too. Thus, strangely enough China is also the world’s biggest polluter. The most important question arising from this scenario then remains that is all the energy raised from sun, wind and other renewable sources go to the grids to be used constructively?
Apart from China there are other countries too which continue to invest seriously to make the clean energy race truly competitive and successful for the future. For instance, Germany emerges can a clear winner in solar energy installation and deployment. Though in 2012 the German investment fell down by 27% but still, it remained the third leading country amongst the G-20 nations with regards to making clean energy investments.
Japan is yet another country which is increasingly making more and more investments in solar energy sector so as to meet the long term electricity demands of the nation. Even South Africa has taken a major leap by investing $5.5 billion in the clean energy developments.
Thus, the clean energy race right now may have a distinct winner in China but, the rising competition will soon make the market more competitive and will bring out more front runners too who wish to develop a clean Earth.