Relative to the size of its economy, the United States’ clean energy finance and investments lag behind many of its G-20 partners. For example, in relative terms, Spain invested five times more than the United States last year, and China, Brazil and the United Kingdom invested three times more. In all, 10 other G-20 members devoted a greater percentage of gross domestic product to clean energy than the United States in 2009. Finally, the Unites States is on the verge of losing its leadership position in installed renewable energy capacity, with China surging in the last several years to a virtual tie.
That is a damning statement for a country generally used to being a leader in the worldwide market. Yes, there was an economic downturn, but apparently every other country is using this rebuilding time to invest in clean energy while the U.S. Congress argues over which old, dirty source of the past should get the biggest subsidy.
For its part, the report has a bright outlook for the U.S., should legislation ever prevail through the gridlock of Congress:
The U.S. policy framework for reducing global warming pollution and promoting renewable energy remains uncertain, with comprehensive legislation stalled in Congress. On the other hand, America’s entrepreneurial traditions and strengths in innovation—especially its leadership in venture capital investing—are considerable, giving it the potential to recoup leadership and market share in the future.
“America’s entrepreneurial traditions and strengths in innovation.” Those are something we talk about often, especially in the realm of clean energy. They are the foundation of the argument for a carbon cap, when it is said that market certainty is what is needed. Give the market some certainty and innovators will figure out how to be successful. They do that for a living.