WWF-International released a study today ranking the cleantech market activities of countries around the world. The report predicts that by 2020 the cleantech industry will be worth $2.45 trillion, ranking as the third-largest global industry behind automobiles and electronics.

According to the 44-country ranking, measured by cleantech sales as a percentage of GDP, the Top 3 countries are Denmark, Brazil and Germany. China ranked sixth. The U.S. ranked 19th, just one position behind the United Kingdom. On the bottom half of the list are Australia, ranked 28th, and Canada, ranked 31st. Keith Stewart at WWF said the results come as a warning to Canada. “This report shows that Canada is far behind countries like the U.S. and China in investing in green technologies, in real and relative terms,” he said. “You can be sure the Chinese economy will not sit still while we sit on our hands.”

Stewart said it doesn’t help that come the end of January 2010 a Canadian federal incentive program designed to promote renewable energy development will run out of budgeted funds. While there is talk of re-charging the fund next year there is still likely to be a major funding gap, creating the kind of bust-boom cycle that once held back the U.S. wind and solar markets. Have we not learned from past mistakes?

The Canadian government boosted its incentives for home energy retrofits yesterday by 25 per cent for most items, which the Ontario government said it would match. It’s all part of an effort to stimulate “green” home renovations as part of a larger effort to kickstart economic activity.

I said “most” items because solar thermal hot water systems got an even greater boost. The current rebate is $500 from the federal government, matched by a further $500 from Ontario. The feds increased its rebate dramatically to $1,250. So if Ontario matches, as it says it will, that will mean anyone who purchases and installs a residential solar hot water system will get $2,500 back. Not bad, considering you can get a system for as low as $6,000.

Expect more “thermal” and energy efficiency announcements from Ontario in the coming weeks. Here’s my article in the Star if you want some more details.