The Pew Charitable Trusts says that private investments in G-20 clean power projects could reach $2.3 trillion by 2020. Energy demand and clean energy policies, driven by China and India, will contribute significantly to this total.
"The message of this report is clear: countries that want to maximize private investments, spur job creation, invigorate manufacturing and seize export opportunities should strengthen their clean energy policies," said Phyllis Cuttino, director of the Pew Climate and Energy program.
Pew's report, Global Clean Power: A $2.3 Trillion Opportunity, analyzes data from the wind, solar, biomass, small hydro, and marine energy projects. It finds that G-20 countries have the opportunity to gain $546 billion in clean energy investments in the next decade compared to a "business-as-usual" approach. G-20 nations are expected to add 1,180 gigawatts of renewable energy, four times the amount that currently exists.
This year, Asia became the leading regional destination for green energy financing. By 2020, China, India, Japan, and South Korea will encompass 40 percent of the world's clean energy investments.
The United States is one of the countries with the most to gain from government clean energy policies. The States could attract $342 billion in clean energy investments in the next decade.