China continues to make all possible efforts to transition to renewable energy sources. A new report the Institute for Energy Economics and Financial Analysis (IEEFA) clearly shows how China clearly aims to become a leader in the production of energy from renewable sources. In the published documents it is stated that the total Chinese investment in projects producing clean energy made in 2017, more than 44 billion dollars, which greatly exceeds the rate of 2016 is $ 32 billion.
According to the lead author of the report Tim Buckley, the head of the research Department in energy Finance at IEEFA, the US decision to abandon the Paris agreement was an important catalyst for the growth of China in the growing global market for renewable energy.
“It doesn’t have to mean that now China will completely fill all the niches left by the US leadership as a result of the rejection of the Paris agreement, but it will definitely provide the country with technological superiority and financial capabilities, allowing them to dominate these fast-growing sectors like solar power, electric cars and the production of batteries”.
Although the efforts of the country in favor of renewable energy highly commendable, China until the end while not get rid of dependence on combustible fuels, analysts say. The country still relies on coal too large China’s energy needs. But the range of energy sources here in recent years has significantly expanded the resources China uses not only coal, but also relies on hydropower, wind energy, solar energy, bioenergy and other renewable sources of energy.
Analysts say a significant growth of alternative energy over the past few decades, however, the country still experiences high levels of pollution
environment. In the last few years the Chinese government has taken serious steps to change this state of Affairs, which led in particular to the closure of up to 40 percent of factories that do not meet the new standards regulating emissions of harmful substances into the atmosphere.
Experts from the International energy Agency (IEA) believe that China’s dependence on coal will continue to decline, while the country’s investment in global projects alternative energy will continue to grow.
China is becoming a new leader in the field of alternative energy
Nikolai Khizhnyak