As if we needed any reminding, here’s a new report on China’s green technology dominance. According to a report just released from the Frankfurt School of Finance and Management, the United Nations Environment Program and Bloomberg New Energy Finance, China accounted for $48.9 billion of the $211 billion in worldwide renewable energy investment in 2010. While China has been the top producer of solar and wind power technology for export for some time, these new figures confirm earlier reports that the country is also spending more for internal green power development. It looks as if driving down costs to compete in international markets makes it easier to justify domestic projects, particularly when the Chinese government is so closely connected with its greentech industries. Indeed, recent reports show that China’s cost of wind power installations continues to drop, even as Chinese solar panel manufacturers are driving down solar costs for projects abroad. At the same time, this most recent report indicates that China is leading a massive push by India and other developing nations to outpace the world’s richest countries in green power investment. In 2010, developing nations directed $72 billion toward green energy, compared with $70 billion in developed countries.
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