China, with a fast-prospering population of 1.3 billion and one of the world's most active industrial machines, is increasingly turning to clean energy to meet its ever-expanding power needs—its energy consumption has doubled since 2000.
And China is winning the competitive battle with the U.S. Even as American lawmakers drag their feet with legislation and the domestic wind energy industry struggles with its worst performance since 2007, the Chinese continue to implement ambitious government policies and to pour money into alternative energy growth, having funneled as much as US$160 billion into projects between 2007 and 2010.
So despite being the planet's second-largest oil consumer after the U.S., China will become the "undisputed global leader in clean energy within the next two years" if it continues at its current pace of growth, according to recent report by the Worldwatch Institute.
China, which last year surpassed the U.S. to become the world's largest wind power market, has doubled its wind capacity every year since 2005. On the solar front, Chinese companies collectively control 40% of the global photovoltaic market. It also leads the world in the manufacture of solar water heaters and is responsible for eight out of every 10 units installed globally.
The Asian giant plans to cut carbon emissions by up to 45% by 2020 and officials in Beijing say renewables could make up one-fifth of the nation's total energy consumption by that same year, and as much as 45% by 2050.
Source: www.energyboom.com
