China leads the world in renewable energy.

Following up on a recent post about the progress made by the Suntech Energy Holdings and its founder Dr. Zhengrong Shi, comes an interesting report from The Climate Group on China’s growing green energy revolution.  While being one of the world’s big CO2 emitter it is leading the way in innovation in green technologies.

China is already the world’s leading renewable energy producer,( in terms of installed renewable energy) and is over-taking more developed economies in exploiting valuable economic opportunities, creating green-collar jobs and leading development of critical low carbon technologies, says a new report to be published by The Climate Group.

The report – China’s Clean Revolution – shows that China’s transition to a low carbon economy is well underway, led by supportive government policies which are not only driving innovation in low carbon technologies but also diverting billions of dollars of investment into energy efficiency and renewable energy.

The report reveals that the low carbon economy is just as attractive to developing nations like China, as it is for richer countries such as the UK, Japan and Germany.

China’s combination of cost advantages, a clear policy framework, a dynamic and entrepreneurial business environment and abundant abatement opportunities, is proving that developing nations have as much, if not more, to gain from investment in low carbon solutions creating green-collar jobs, social benefits and economic growth.

Despite its coal-dependent economy, the report reveals Chinese government and businesses have embarked on a Clean Revolution that has already made it a world leader in the manufacture of solar photo-voltaic technology (Solar PV) where its six biggest solar companies have a combined market value of over USD $15 billion.

Over the next 12 months, China is also set to become the world’s leading exporter of wind turbines and is competing aggressively in other low carbon markets including solar water heaters, energy efficient home appliances, and rechargeable batteries.

One of the Key Findings from the report:

China has recently over-taken the US as the world’s leading emitter of greenhouse gas and will play a key role in solving the climate change challenge facing the world. China’s 1.3 billion population currently accounts for 24 per cent of total global emissions. Although China’s CO2 per capita is still relatively low, should China’s citizens ever emit as much CO2 per capita as Americans now are, China’s total emissions would be roughly equivalent to the entire planet today.

Often described as the factory of the world, 23 per cent of China’s CO2 emissions were produced in the manufacture of products for export in 2004, mainly to the developed world. However, it is precisely its ability to manufacture technology in large volumes and at competitive prices that will enable it to dominate the world’s renewable technology market.

Read the rest at the Climate Group’s  link and the Executive Summary link here

China’s dependency of coal for its energy source continues but it is encouraging that it is making efforts to invest in renewable energy sources and perhaps it may be China to lead in innovation that will one day see renewable energy overtake fossil fuels as the planets main energy source.

PHOTO:

building with solar panels

Photo Courtesy Suntech Power Holdings Co. Ltd. who retain rights.

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~ by abstraktbiblos on Saturday, 2 August, 2008.

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