In 2014, the Chinese government spent 89.5 billion U.S. dollars on green energy, accounting for one third of global investments made in this sector.
As for the photovoltaic, China has planned to instore 17.8 gigawatts of photovoltaic cells in 2015.
China will increase the proportion of its renewable energy in its energy production to 20 percent in 2030, against less than 10 percent in 2013, and increase its forest stock by 4.5 billion cubic meters compared to 2005.
China’s latest five-year development plan promises an energy revolution. Better technology and non-fossil fuels mean that biomass, geothermal, hydro-, solar and wind power must do the heavy lifting.
Hydro projects are speeding up; tax breaks and subsidies offered to new energy companies, and the results have been satisfactory. The world’s largest energy consumer and producer is leading the world in PV production, wind and hydropower.
Having poured 89 billion U.S. dollars into clean energy, China scored 2.29 on a 0-5 scale in last year’s Climatescope clean energy survey, the highest among 55 nations surveyed, said an independent industry report.