Thaindian News

Beijing, Mar.30 (ANI): China remains the world’s leading investor in low carbon technology as global investment in the sector reaches a new high of 243 billion dollars, says US Pew Environment Group report.

Globally, the sector, which does not include nuclear power attracted 243billion dollars of investment, a 30 percent increase from 2009 and a whopping 630 percent rise since 2004.

The US saw investment increase by 51 percent to 34 billion dollars, it still moved from 2nd to 3rd rank, behind Germany’s 41.2 billion dollars.

The UK slipped outside the top 10 as investment fell by 70 percent in 2010, The BBC reports.

The report outlined that China is also the world’s leading producer of wind turbines and solar energy units.

The report ‘Who’s Winning the Clean Energy Race’, using data compiled by Bloomberg New Energy Finance, examined the clean energy sector’s investment and technological trends in the G20 leading economies.

“Looking at global trends, the solar sector experiences the strongest growth among the various technologies,” observed Michael Liebreich, chief executive of Bloomberg New Energy Finance.

Explaining the UK’s slip in the rankings, Liebreich suggested that it was a result of “policy uncertainty during a substantial part of the year”.

Phyllis Cuttino, director of Pew’s Clean Energy Program said their reports clearly suggest that that strong policies attract investments.

“Nations like China, Germany and India, which all saw increases, were attractive to financiers because they have national policies that create long-term certainty for investors,” said Cuttino. (ANI)