China solar, wind to attract $780 billion investment by 2030A report led by Greenpeace suggests that the Chinese solar and wind sectors could attract as much as 5.4 trillion yuan in investment between 2016 and 2030.
China has pledged to increase non-fossil fuel energy to at least 20% of total energy consumption by 2020.
As well as controlling carbon emissions it is also part of the Chinese effort to curb air pollution.
This is an extraordinary amount of money – but as renewable energy improves, it’s becoming less about spending money on new technology and more about it being regular infrastructure spending.
Telecommunications in Africa, for example, largely skipped the laying of copper wire and went straight to mobile phones. Perhaps we will see something similar with renewable energy.