NEW YORK, NY -- (Marketwire) -- 10/06/11 -- Renewable energy stocks have been on the downturn over the last month as the Eurozone debt crisis has led to subsidy concerns. Meanwhile, in the United States the 'Solyndragate' scandal has already begun to affect policy. In China, however, the alternative energy market continues to grow at a rapid pace, placing added emphasis on renewable energy companies' Chinese operations. The Paragon Report examines investing opportunities in the Renewable Energy Sector and provides equity research on A123 Systems, Inc. (NASDAQ: AONE) and Capstone Turbine Corporation (NASDAQ: CPST). Access to the full company reports can be found at:
Last month Republicans broadened their attack on the Obama administration's management of stimulus money and its pursuit of alternative energy -- such as Solyndra -- as a way to spur employment. 'A green jobs fueled recovery is a theory, and is yet unproven,' argued Darrell Issa, Republican of California. Rep. Cliff Stearns, the Florida Republican leading the Solyndra investigation, bluntly argued that the United States 'can't compete with China to make solar panels and wind turbines.'
In the Eurozone, the current debt crisis has led to widespread fears regarding subsidies. So far growth projections remain on track, however. In the EU, senior advisor on climate change and the environment for the European Wind Energy Association (EWEA), Rémi Gruet, said, non-binding renewable electricity targets set in 2001, combined with the target for renewables to supply 20% of all energy in the bloc by 2020, have driven up installation rates. He said 84GW of wind capacity were installed by 2010, supplying 5.3% of EU electricity consumption.
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Gruent argues that renewable targets are 'a proven legislative tool that already delivered significant development in the EU, US, China, and many other developed and developing countries.'
Despite being one of the world's most prominent polluters, China's investment into clean technology far surpass the United States. According to Ernst & Young, China is the most attractive location to invest in renewable energy projects. The firm says that the United States slipped to second place last year -- due in part to China's $11.5 billion in asset-financing for clean technology in the second quarter of this year -- on the Renewable Energy Country Attractiveness Indices.
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