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China and South Korea are among the few countries that have implemented economic stimulus packages with a large enough "green" element to put them on the road to a low carbon, resource efficient economy, according to a book published by the UN Environment Programme (Unep)

China South Korea economic stimulus package stimulus plan stimulus

Beacon Power Corp., a maker of energy- storing flywheels, completed 96 forms filling seven three-ring binders in its effort to get a U.S.-backed loan.

The Tyngsboro, Massachusetts, company with $68,000 in revenue last year says it spent more than $1 million pursuing federal guarantees for $42 million in financing to install its flywheels in New York state. After three years, Beacon got an answer last week: application approved.

beacon power loan flywheel stimulus plan stimulus package greenmonktv

nearly 40 percent of China’s proposed $586 billion stimulus plan—$221 billion over two years—is going toward public investment in renewable energy, low-carbon vehicles, high-speed rail, an advanced electric grid, efficiency improvements, and other water-treatment and pollution controls.

china stimulus plan renewable energy smart grid greenmonktv