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China’s Mojo: Pouring Billions into Green Tech

08/20/2010

Last year the Chinese government announced its commitment to raise the share of ­renewable energy ­(excluding hydroelectric power) in the energy mix to 6%, from the 2009 level of 1.5%, resulting in an explosion of energy and infrastructure projects.  As a result, China is sprinting ahead of the world in renewables:

  • Yesterday, the Chinese government announced a plan to invest up to $15 billion in a state-run venture that will research, develop, and generate standards for upcoming hybrids and EVs. GM recently teamed up with Chinese state-controlled automaker SAIC to develop fuel-efficient engines and transmissions.
  • Earlier in the week it was noted that China’s National Energy Administration took bids from solar-power developers to build out 13 projects around the country that will almost double the current level of China’s solar-power capacity. Only one bid (out of 140) was from a foreign company.
  • China is poised to retain an even greater lead as the world’s largest manufacturer of wind turbines. A title China easily won in 2009 by surpassing past competitors in Denmark, Germany, Spain and the United States.

In the future non-fossil fueled energy will be the U.S. norm. Our nation’s inability to have the courage to lead in this sector will shift our energy dependence to China from the Middle East.

For More Information:

The Guardian (UK):  China Puts its Faith in Solar Power

Wall Street Journal: For Foreigners, China’s Solar Market is Cloudy

New York Times:  China: Leading the Renewable Energy Race

One Comment leave one →
  1. 08/20/2010 6:31 pm

    Nice writing. You are on my RSS reader now so I can read more from you down the road.

    Allen Taylor

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