Who will win the clean energy race? via ABC News

By Phyllis Cuttino and Michael Liebreich

ABC Environment | 22 Aug 2011

Germany is currently the world-leader in installing renewable energy. Credit: iStockphoto.

Germany now has more renewable energy installed than the USA. But the race is far from over and there is stiff competition in developing countries.

AFTER LESS THAN A year and a half in which so much energy news seemed troubling – nuclear meltdowns, oil spills, rising gas prices – it might be startling to find out that worldwide installed capacity of renewable energy has now surpassed that of nuclear power. In fact, global investment in clean energy, driven by enlightened, forward-looking national policies, grew to a record US$243 billion in 2010, up 30 per cent from the previous year.

Indeed, in less than a decade, clean energy has grown from a niche industry to a significant source of trade, investment, manufacturing, and job creation. Since 2004, annual investment in the sector has increased by an impressive 630 per cent. We need to ensure that this encouraging trend continues.

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