China is quickly capturing the emerging multibillion-dollar global clean energy industry.
- China is spending $12.6 million every hour on clean energy investments. Only six of the top 30 wind, solar and advanced battery technologies are American.[1]
- China has also become the world’s leading manufacturer of solar photovoltaic technology, with 820 megawatts of production in 2007 – second only to Japan. China’s more than 400 solar companies employ more than 300,000 people, and the top six of these companies have a combined market capitalization of over $15 billion.
- China also now ranks fifth in the world in installed wind power capacity, and the Global Wind Energy Council predicts China will become the world’s top wind turbine producer by the end of 2009. China now has now more than 50 companies in the wind energy business, including 40 parts suppliers, four local manufacturers and six joint ventures.
With strong U.S. policy, Indiana could realize its full potential in the national and global clean energy economy.
- By eliminating uncertainty, providing clear incentives, and establishing regulatory guidelines, federal policy creates the market signal to spur billions in investment capital, unleash our world-famous innovative entrepreneurs, and enable our state to help lead the clean energy technology revolution.
- Uncertainty over U.S. policy is choking growth of this industry here at home. Passing federal climate and energy legislation will create the market certainty needed to spur investment and grow jobs.
- Energy is the largest industry, by revenue, in the world. It represents the next breakout technology sector. Clean energy technology will do for energy what IT has done for information and communications.
- Worldwide demand for new technologies developed to reduce global warming pollution will create a global market potential of more than $180 billion annually, according to government estimates.
- As Indiana business leaders, we have a vested interest in the economic health of our state. As Indiana entrepreneurs, we have our finger on the pulse of the state’s economic future.
[1] http://www.commerce.gov/NewsRoom/SecretarySpeeches/PROD01_008262
We are Indiana business leaders who believe that Indiana has an extraordinary opportunity to become a leader in the construction of renewable energy and energy efficient systems, and the manufacturing of component of such systems. We are committed to advancing policy that will accelerate the development of these sectors in Indiana.
Header image courtesy of http://www.flickr.com/photos/roundaboutindy/
Header image courtesy of http://www.flickr.com/photos/roundaboutindy/