Argument: Renewable energy standard ensures US green tech competitiveness


A 2010 Ernst & Young report, found that China has passed the U.S. for the first time to become the most attractive destination for global clean energy investment: “This issue sees the US relinquishing its top position held since 2006 — dropping two points to slip behind China, effectively crowning the Asian giant the most attractive market for renewables investment. This follows the failure in the US Senate’s proposed energy bill to include a Federal Renewable Energy Standard (RES) provision.”[1]

Daniel Goldfarb. “Renewable Energy Standard: Symbolism or Substance?” Huffington Post. September 28th, 2010: “At a special committee on Energy Independence and the Environment, Rep. Edward Markey (D-Mass.) warned that if nothing is done, “We will trade our addiction to Middle Eastern oil for an addiction to Asian or European clean energy technologies.” In the last ten years China has jumped way ahead in the production of clean-energy technologies. China and Taiwan combined to produce 49% of the solar market in 2009, with 95% of the technology being exported. At the same time China is making efforts to duplicate its success with solar exports in the wind turbine market. Much of China’s gains in these sectors, importantly, have been attributed to RES like measures to create robust and stable domestic markets. Surprisingly, according to heads of industry, it is not labor prices that are driving jobs to China, but stable markets.”