A new study from the Center for American Progress shows the United States is falling behind other countries in the development and application of renewable energy sources.
The report states that China's new stimulus package allots 3% of the country's GDP to be spent on clean energy investments. This equates to $12.6 million every hour. On the other hand, the United States economic recovery plan invests less than 0.5% of the country's GDP, which is around half the total of China's current investment.
The study also points out that US is struggling to set itself up to be competitive in the new energy economy. Specifically, the report highlights four ways the US lags behind other nations: it has an outdated electrical grid, no national energy portfolio standard, no carbon reduction system, and does not invest enough.
Read the full story at Hill Heat: Study: China Spending $12.6 Million Every Hour Greening Their Economy
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