China is going to leave the rest of the world "in the dust" in terms of the development of a green economy, head of the UN Framework Convention on Climate Change Christina Figueres said at a panel discussion in Switzerland last week. Last year the country boosted low carbon energy spending by 30 percent to reach over $50 billion, the largest figure of any country, and the development is set to continue. According to Bloomberg, China WindPower Group is slated to borrow as much as $240 million from the Asian Development Bank to develop more wind farms. China is aiming to install 150,000 megawatts of wind power by 2020. China WindPower currently operates 1,163 megawatts. Last week, the government of Taiwan reduced the feed-in tariff for solar power by 30 percent in response to the falling cost of equipment installation. Prices may fall an additional 10 to 15 percent this year, and the government aims to have a total of 170 megawatts of wind and solar power installed in 2011. In India, a trade in energy-saving credits is expected to start in April 2012, aiming to reduce the amount of power consumed by companies in the most energy-intensive industries. According to Baman K. Mehta, chief executive of Darashaw & Company Pvt., the market may eventually yield credits worth as much as $3 billion every year. Meanwhile, the country is the world's second largest producer of UN credits for carbon reduction, after China. Outside of Asia, countries are struggling in the "green economy race;" European leaders are set to meet on February 4 to discuss how to reconcile lofty environmental goals with the debt crises of member states. "Don't kid yourself," said EU energy commissioner Guenther Oettinger. "The European Investment Bank can help us, but they are not a charitable organization." For the story on China and the "Green Economy Race," see http://www.bloomberg.com/news/2011-01-27/china-winning-the-green-economy-race-un-climate-talks-chief-says.html. For China's wind projects, see http://www.bloomberg.com/news/2011-01-28/china-windpower-enters-agreement-to-borrow-60-million-from-adb.html. For Taiwan and solar, see http://www.bloomberg.com/news/2011-01-28/taiwan-reduces-solar-power-feed-in-tariffs-30-for-2011-as-costs-decline.html. For India, see http://www.bloomberg.com/news/2011-01-27/india-to-implement-energy-efficiency-program-in-eight-industries.html and http://www.bloomberg.com/news/2011-01-28/cash-for-clean-energy-trading-to-start-in-india-with-threat-to-un-market.html. For Europe's troubles, see http://www.reuters.com/article/2011/01/26/us-eu-renewables-finance-idUSTRE70P6H520110126.