Sustainable Industries Daily Update

The U.S. is taking leaps and bounds in green technology, but a new study reveals that China is the most attractive place for green tech investment (photo courtesy of http://www.flickr.com/photos/jurvetson/2126204366/).

The Oregon Built Environment & Sustainable TechnologiesCenter (Oregon BEST) has announced that it will invest just over $1 million in university research facilities for solar energy and green building. The funding will purchase key research equipment and new research lab facilities that will expand Oregon¹s university research capability in both solar energy and the sustainable built environment. The findings will help Oregon¹s green businesses more quickly commercialize new green products and technologies.

Also in Oregon, Ocean Power Technologies Inc. on Monday said it has received $4.8 million from the U.S. Department of Energy, with half going to the company's planned Oregon wave energy park off of the coast of Reedsport.

The California Energy commission has approved the construction of the Abengoa Mojave Solar Project, the second solar thermal project to be licensed in California. The project is among nine large solar thermal projects scheduled to go before the Energy Commission for a decision before the end of the year in order to qualify for federal stimulus dollars

In Livonia, Michigan, money is also being invested in new "green" innovations. Thanks to a $249 million dollar grant from the U.S. Department of Energy given one year ago,  A123 Systems, a developer and manufacturer of advanced Nanophosphate lithium ion batteries and systems, has announced the grand opening of the largest lithium ion automotive battery production facility in North America. A123 Systems manufactures the batteries and battery systems for the  transportation, electric grid services and commercial markets. A123 had a successful IPO late last year.

Even though the United States is trying to move toward using more clean energy and  cleantech, a new Ernst & Young study reveals that China has overtaken the U.S. as the most attractive place for green tech investment. The report points to failures on the part of the U.S. government to take action that would attract green investors, such as failing to establish a national Renewable Energy Standard and languishing in extending incentives for a federal tax subsidy program that is spurring construction of large solar facilities.