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China moves toward aggressive renewable energy strategy

Source: VentureBeat

Aug 05, 2009

Summary

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, the figure is pretty ambitious for a country with such a massive population and higher technological hurdles. In fact, 15 percent would 13 times China’s current amount of energy generated by renewables (about 15 million kilowatts, according to VentureWire). The proposal would significantly revise a current target of 60 million kilowatts by 2020.

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 $

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