Germany Overtakes US as the Most Attractive Market for Renewable Energy Investment (thanks Bush)

[jpak]

http://redgreenandblue.org/2009/01/04/germany-overtakes-us-as-the-most-attractive-market-for-renewable-energy-investment/

According to the Ernst & Young’s latest Renewable energy country attractiveness indices, Germany has overtaken United States as the most sort after market for investment in renewable energy. The auditing firm blames the economic downturn for what has been a challenging year for renewable energy investment across the world.

The indices - which track and score global investment in renewable energy – also reveal that there has been a record reduction in the attractiveness of all 20 countries included for the first time since its creation five years ago.

Germany has been successful in attracting foreign investment due to its feed-in tariff system under which consumers can sell electricity produced from solar panels or wind turbines installed at their homes to power companies at a price higher than the market price. Although feed-in tariff has its roots in California where it was first used, the US failed to capitalize on this scheme whereas Germany mastered it so well that now other countries are adopting the same model.

While renewable energy projects kept sprouting around the world the United States, under the leadership of President Bush, failed to adopt a decisive policy for encouraging renewable energy growth. Even though the US is blessed with ample renewable energy sources, its lawmakers remained busy talking about oil while the European countries went ahead and invested heavily in wind, solar and tidal energy.

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[bdamomma]

1. Europe has it all over us as far as energy alternatives.

when will we get it together.