China Winning Renewable Energy Race
According to a September 22 report from CNNMoney.com, five miles off the coast of Shanghai, the Chinese recently completed the country's first offshore wind farm. Earlier this month, the accounting firm Ernst & Young named China the most attractive place to invest in renewables, knocking the U.S. out of the top position. The study ranked countries on such things as regulatory risk, access to finance, grid connection and tax climate. It cited the lack of a clear policy promoting demand for renewables in the United States -- a product of Congress' failure to pass an energy bill -- as one of the main factors for the dethroning.