China Aims to Spend at Least $360 Billion on Renewable Energy by 2020

[burfman]

Source: NY Times

China intends to spend more than $360 billion through 2020 on renewable power sources like solar and wind, the governments energy agency said on Thursday.

The agency said in a statement that China would create more than 13 million jobs in the renewable energy sector by 2020, curb the growth of greenhouse gasses that contribute to global warming and reduce the amount of soot that in recent days has blanketed Beijing and other Chinese cities in a noxious cloud of smog.

Even the headline-grabbing numbers on total investment and job creation may understate what is already happening on the ground in China. Greenpeace estimates that China installed an average of more than one wind turbine every hour of every day in 2015, and covered the equivalent of one soccer field every hour with solar panels.



Read more: http://www.nytimes.com/2017/01/05/world/asia/china-renewable-energy-investment.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region&region=top-news&WT.nav=top-news&_r=0

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The revolution in wind and solar may happen regardless of what our country does.

China may have even more incentive than we do as evidenced by the smog that occurs in Beijing.






It would be great if we could be part of the solution too.

Burfman.....................

[SammyWinstonJack]

1. And we plan to spend 350 billion repealing Obamacare.

[Hortensis]

2. Good for China. I can imagine the day coming when we

beg, copy, and steal environmental technology from them, instead of vice versa, thanks to the villains taking power here.

[xor]

3. That's good news given China's size and huge growth

However, to say that the US isn't part of the solution doesn't seem accurate. We're second behind China when it comes how much money spent on renewable energy. I'm not sure what country spends the most percentage of its GDP on renewable energy, but I bet it's some Nordic or other European country that beats both China and the US.


Here's an interesting read if you doubt US investment in renewable energy.

http://www.pbs.org/newshour/rundown/u-s-investment-in-renewable-energy-outpaces-fossil-fuels/