Last year, I sat on a panel at an energy conference where someone asked me my thoughts on China's impact on the renewable energy sector.

My response was simple, upset a lot of people, and has since proven to be pretty accurate. . .

"They're going to bury us!"

I don't say this to disregard all the progress we've made here in the United States. Certainly, we've come a long way over the past few years. And there are some excellent renewable energy companies operating domestically.

But the fact is China's desperate need for more domestically-produced power that doesn't further degrade their dwindling water supplies or pollute their air — which will give your eyes and lungs a good burn on a stagnant day — is a major catalyst for renewable energy growth in the Middle Kingdom.

This is why the Chinese government is ponying up billions in support for solar, wind, and electric vehicles. Because without these things, future growth will absolutely be stalled. They know it. . . the big money knows it. . . and if you're a long-time reader of these pages, you know it, too. . .

In the meantime, the Chinese continue to pump out solar modules cheaper than anyone else; their largest wind turbine manufacturer, Sinovel, will likely become one of the world's largest wind turbine manufacturers; and — as we're finding now — if you need billions in financing for a wind farm, China may be more than willing to provide that, too.

Laying the Groundwork for Alternative Energy Development

Last Thursday, China marched into the Lone Star State with $1.5 billion for a 600+ megawatt wind farm.

The project is actually a joint venture with Cielo Wind Power, U.S. Renewable Energy Group, and Shenyang Power Group. When completed, it will provide enough power for about 180,000 homes. Chinese turbine manufacturer A-Power Energy will be supplying the turbines.

Here's what Jinxiang Lu, Shenyang Power Group's CEO had to say about the project: "With a long track record for building some of the world's biggest wind farms, the U.S. is an ideal target for foreign alternative energy investment."

And he's right.

But this is no secret. . .

Sure, it was just last week when Energy Secretary Steven Chu told reporters that the U.S. was falling behind China and others in alternative energy investment.

But we've been reporting on this for years.

And let me tell you, you don't have to be the Energy Secretary to know that foreign corporations have been aggressively laying the groundwork for alternative energy development in the U.S.

Heck, just over the past two years, Spanish wind energy powerhouse Gamesa (MCE: GAM) has built four new wind turbine production facilities in the States. Siemens (NYSE: SI) has a rotor blade manufacturing facility in Iowa and they are currently building a turbine production facility in Kansas. And Denmark-based Vestas (CO: VWS) is now building two new manufacturing facilities in Colorado.

My friends, companies like these don't throw down hundreds of millions of dollars to build out manufacturing in the U.S. without some certainty that there's a big pay day involved. . .

And investors who ignore this fact will continue to miss out on one of the greatest investment opportunities of the 21st century.

Like our latest wind play, for instance. This one could be an easy double in six to eight months.

It's a wind energy developer based in California that could get a huge boost in about eight weeks, after California's new renewable energy mandate goes into effect.

You can read more about this wind company here.

To a new way of life, and a new generation of wealth. . .

Jeff