U.S. a Distant 2nd Behind China in Renewable Energy Investment, Jobs
Tue, Jul 20, 2010
The usual suspects—cheap loans, electricity and labor—are coming together to put U.S. companies behind the eight ball when it comes to the race for global renewable energy leadership. In a country that pays recent college engineering graduates $7,000 a year, China is able to bring renewable energy products—including solar panels and wind turbines—to market quicker, cheaper, and with more industry dynamism and leadership than their U.S. counterparts. In fact, some Chinese solar panel manufacturers are reducing the price of solar panels sold in America to build market share—selling them on the American market for less than the cost of the materials, assembly and shipping.
