This week Mitt Romney has been criticizing the President for directing $90B to green energy as part of his 2009 stimulus. Conservatives cite failed green investments like Solyndra, which went bankrupt in August 2011. But how does America’s spending compare to other country’s when it comes to renewable energy? So far, we’re keeping pace with China. Beijing spent $52B on green energy last year, while the U.S. trailed closely spending $51B.
But what happens going forward? China indicated this past November it was increasing its investment significantly, confirming to U.S. commerce secretary John Bryson it was expecting to commit $1.7T to green energy and other emerging industries over five years.
Mitt Romney has not outlined his energy policy yet. Actually, at a fundraiser in Houston yesterday, he told donors, “I know that we have members of the media here right now, so I’m not going to go through that in great detail so I can save a bit of that until a little later in the week.” As he beats to drum against green investment, however, it is clear this election could have a big impact on the trajectory of renewable energy in this country.