New York, NY (PressExposure) November 01, 2011 -- The United States lost a position among the largest investors in green energy, given the lack of a national energy policy that has negative effects on solar and wind energy purchase as well as other forms of energy.
China is in the first place in the top and Germany in second place, according to the report "Who's Winning the Clean Energy Race" conducted by the Pew Charitable Trusts, an independent non-profit according to Reuters.
Last year the U.S. came in second place, losing the top position against China. U.S. investments in green energy totaled 34 billion dollars last year, up 51 percent from a year earlier but still below the 54.4 billion dollars invested by China or the 41.2 billion invested by Germany.
The global investments in green energy of the entire group of 20 richest nations increased by 33 percent from the last year reaching 198 billion dollars, the rising of the investments is explained by the fact that the savings for the economic crisis have exceeded the period of recession and are able to lay off more money for alternative energy research.
Japan increases taxes for the reconstruction effort
Japan leading political party is considering proposals to reduce taxes for companies and corporations and raising taxes on individuals, so you get more money for reconstruction efforts following the devastating earthquake on March 11.
Japanese Prime Minister, Naoto Kan, said Tuesday it will be taken into account several sources for money to rebuild but that all these alternative sources will be discussed and decided public, informs Bloomberg.
On the other hand increasing taxes could have a devastating effect on economic growth. Some legislators have suggested that the most appropriate measure would be the Japanese central bank to buy debt securities to lend direct from the government to support infrastructure reconstruction and repair of damaged cities.
"An increase in taxes could have the effect of lower consumption in the population given that consumption in households is already affected," said Noria Miyagawa, senior economist at the Tokyo company analysis. "If the government quit reducing taxes on corporations and companies this could accelerate the collapse of Japan's economy."
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