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Report released on Chinese renewables
- 13 years ago (2011-02-17)
- Junior Isles
A new report titled "China Renewable Energy Market Outlook” has been released detailing every segment of the renewable energy industry in China; including wind, solar, hydropower, biomass, geothermal and tidal.
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The report provides new data on renewable energy production and consumption, and deals with issues such as industry reforms of the country, known big companies involved in the industry, government regulations that govern the renewable energy market and others.
According to the report, China has made tremendous advances in the previous two decades by substituting the industries with outdated technology with current technologies thus bringing prosperity to the people. To sustain its industrial growth, China utilised coal as a primary energy source, causing increased pollution leading to acid rain, crop damage and health problems and increased level of expenses on social and economic segments. Initially, renewable energy development in China was blocked because of the higher initial investment when compared to fossil fuelled power generation. The country has since acknowledged sensed the potential benefits of renewable energy such as meeting the international competition, employment opportunities ecological and health improvements and above all energy security.
China chose wind power generation as the primary renewable power generation to balance its energy mix, to ensure energy security and to offset the reports on global warming. The country has set its renewable energy targets for 2010 and 2020 and has introduced policies to support domestic manufacturing of clean energy products. The country received 16 per cent of its power from renewable energy in 2006 with maximum contribution from hydroelectric power. The country reached an installed hydro capacity of 145 000 MW in 2007 and set to achieve 190 000 MW in 2010. Recent researches from Tsinghua University and Harvard University have assessed that China is capable of meeting all its power demand from renewable wind energy by 2030.