China overtook the US during 2009 to become the leading investor in renewable energy technologies, according to a new analysis. Researchers with the Pew Charitable Trusts calculate that China invested $34.6bn (£23.2bn) in clean energy over the year, almost double the US figure. China's target of having 30GW of installed renewable capacity in place by 2020 will soon be exceeded through wind alone, and new targets are in the process of being set. [China is now the world's leading manufacturer of solar cells and wind turbines.] http://news.bbc.co.uk/1/hi/sci/tech/8587319.stm
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China’s huge clean energy projects
In total, China is outspending the US by almost 7:1, pledging $440 billion vs $69 billion for clean energy over the coming years.
A new wind power plant will be 25 larger than the current world's largest; and a new solar power plant will be 33 times larger!
http://cleantechnica.com/2010/02/02/wow-china-is-serious-about-clean-energy/
China further promotes renewable energy
China's utilities will be required to buy all the power produced by wind farms and other renewable sources under a new law meant to promote the industry and reduce heavy reliance on coal.
China is one of the biggest users of wind power and the government is trying to promote use of solar by promising to pay up to 70 percent of the cost of new systems.
Government goals issued in 2005 call for at least 15 percent of China's power to come from wind, solar and hydropower by 2020, up from 9 percent now. Officials say that target may be raised to 20 percent because the industry is developing so fast.
December 26th 2009
http://www.businessweek.com/ap/financialnews/D9CRKCJO0.htm