06/04/2010 - China's formidable power in solar energy is growing.
With potentially huge export and domestic markets, low-cost factory labor and government backing, China's clean energy sector attracted more investment last year than any country, knocking the U.S. to second place.
"One of the main reasons is obvious, looking at the unquenchable thirst of China for electricity," said Lux Research analyst Ted Sullivan. "Look at the rate at which demand is growing, the rate at which they're adding new dams and electric and hydroelectric plants."
Technicians checking solar panels at a power plant in Chuzhou. China's solar industry is rising fast. AP View Enlarged Image
Wanting to ensure it's an ally, the U.S. stressed clean-tech collaboration in a joint U.S.-China statement on energy security cooperation issued last month.
The Chinese government's focus on fostering alternative energy has "given investors a place to go and invest" by offering predictability, said Phyllis Cuttino, a Pew Charitable Trusts project director.
Read the full article, Power Play: China Overtakes U.S. In Clean-Energy Investments, on the Investor's Business Daily Web site.