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China becoming the global leader in renewable energy

Guardian 10th Jan 2018, China is moving towards becoming a global leader in renewable technology as
the US pulls away, a new report has said.

China is the world’s biggest emitter of greenhouse gases and still invests in coal but in recent years
it has become the largest investor in domestic renewable energy. The
country is now on track to lead international investment in the sector,
according to the report by the Institute for Energy Economics and Financial
Analysis (IEEFA).

“As the global transition toward renewables gains pace
and as battery storage and electric vehicles technologies pick up momentum,
China is setting itself up to dominate these sectors globally over the next
several dec ades of this century,” said IEEFA. IEEFA identified a record
high spend of more than US$44bn by China on international takeovers and
projects worth more than $1bn – a 38% year-on-year growth.
https://www.theguardian.com/environment/2018/jan/10/china-on-track-to-lead-in-renewables-as-us-retreats-report-says

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January 12, 2018 - Posted by | China, renewable

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