China plans to invest 2.5 trillion CNY (360 billion USD) in green energy since 2020. The country’s government aim is to reduce the use of coal, which is main supplier of energy at the moment. The raw material is cheaper, but more polluting. The air quality becomes a very serious problem for large areas in the northern parts of the country, including the capital Beijing.
According to analyzes by the Chinese authorities, as a result of policies to promote renewable energy sources will be created 13 million jobs over the next five years.
The idea of the Energy Agency is until 2020 half of new energy facilities to be wind, water and solar power plants, as well as nuclear power plants. The document, however, do not reveal how agency will finance the plans. Each year will be needed around 72 billion USD for the realization of the idea.
A month ago, the National Agency for Economic Planning announced that will be supported development of plants using renewable energy sources. For solar plants will be invested about 1 trillion CNY. The aim is to increase five times the capacity of such plants in the country. Another 700 billion CNY will be directed to wind farms and 500 billion CNY to hydropower plants, including using geothermal energy.
But even with this greater support the renewable electricity sector is responsible for only 15% of the electricity consumed in the country in 2020. This corresponds to about 580 million tons of coal. More than half the energy capacity in China will continue to use coal production indicate further the country’s authorities.
more recommended stories
What Does the Future Hold for The Toronto Star?
Nothing is inevitable until it happens,.
Macy’s Assets Continue to be Overlooked
This is no time to be.
Global Asset Prices Move in Lock-Step
Portfolio managers often preach the benefits.
Buffett Doubles Apple Stake, Adds to Airlines
The Securities and Exchange Commission (SEC).