From Green Venturebeat:
China’s energy administration is drawing up plans to increase power generation from renewable sources to 15 percent of the nation’s total by 2020. To do so, the country will rely more on solar, wind and biomass energy with the goal of deriving more than 200 million emissions-free kilowatts.
While 15 percent might not seem like a lot in California where the mandate is 33 percent of the state’s total by 2020 [Editor's Comment: of course CA likely will fail to achieve its goal because it is broke], the figure is pretty ambitious for a country with such a massive population and higher technological hurdles.
Achieving the raised bar would require substantial financial investment by the Chinese government and private backers. Rough estimates put the amount at $658.8 billion dollars (or as high as $1.3 trillion including investments from component makers and others) — a staggering number that is closer to the U.S.’s full $787 billion stimulus package than the $60 billion going to cleantech industries. [Note: China will invest 10X the US cleantech budget]
China just wanted to be at par with USA.
Posted by: custom essays | 09/29/2011 at 01:17 PM