U.S. soon defeated by Asia in the clean technology development marathon?
Image source: greenbusinesstimes.com
A recent study by the Breakthrough Institute and the Information Technology and Innovation Foundation shows that the U.S. could be eclipsed by Asia in terms of investing on clean technology and clean energy. Governments of China, Japan and South Korea will shell out an estimated $519 billion from 2009 to 2013 for clean technology while the U.S. government budgeted around $172 billion for the same.
Now that Asia is offering a better business and investment climate than the United States, the U.S. is slowly losing its edge in attracting venture capital and other private funding. This means that the U.S. will be importing the majority of its clean energy technologies in the near future should the investment gap continue. Read the full article here
By Maria Belgado
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Tags: Asia, China, clean energy technology, investment, japan, renewable energy, South Korea, US
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