Mario Delecce: China Springs Ahead of US in Renewable Energy Race

According to the Bloomberg New Energy Finance research group (BNEF), China took over as the world leader in renewable energy investment, a position held by the United States until 2012. However, global investment in renewables plunged over 10 percent, the largest such fall in nearly a decade. The BNEF cites market uncertainty and major policy changes in such renewable energy hot zones as the United States, India, Spain, and Italy for the decline.

In 2012, China secured green energy investments of nearly $68 billion, an increase of 20 percent over 2011. The growth owed substantially to its healthy solar power industry. The United States lags in second place with just over $44 billion.

A few countries surprised the BNEF with the vitality of their green energy economies. South African investments increased from the tens of millions to $5.5 billion in 2012 due to the finalization of solar and wind project financing. Furthermore, Japanese investments rose by three quarters more than 2011's number.

About the author: Mario Delecce works as Managing Director for Polaris Energy, a finance firm based in Italy and active in the alternative energy market.