U.S. Leads World in Clean Energy Financing

The U.S. government arranged the most financing for clean energy projects in 2011. So Bloomberg reports.

It completed 13 deals worth $10.1 billion. Projects include BrightSource Energy Inc. Terra Firma Capital Partners invested the most; Kleiner Perkins Caufield & Byers completed the biggest number of deals.

A cash grant program from the Treasury Department and the Production Tax Credit, which gives 2.2 cents per kilowatt-hour of wind, pushed U.S. funding past China for the first time since 2008, Bloomberg says.

But because these initiatives will expire soon, it is possible there will be a rush to complete projects this year, followed by a slump next, Bloomberg reports.

Turbine maker Vestas Wind Systems A/S said it may eliminate 1600 U.S. jobs if the Production Tax Credit is not extended.

When the credit expired in 2003, U.S. wind installations declined from 1670 megawatts to 397 megawatts, Bloomberg says.

In addition, the U.S. position among loan managers rose from third place, the Washington Post says.

U.S. clean energy investment rose 33% to $55.9 billion last year. In China, it increased 1% to $47.4 billion.

To read the full article by Bloomberg cited in this story, click here

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