China Leads World in Renewable Energy Investment
Close on the heels of John’s story about China setting standards in eco electronics, comes news that researchers from the Worldwatch Institute, have suggested that China is the world’s leading investor in renewable energy. If large scale hydro is excluded then the country spent $6 billion USD in renewable energy in 2005. That’s out of a world total of $38 billion USD, to which the US and Europe combined contributed $10 billion USD. Most of the investment was in small hydro and solar hot water systems. Worldwatch are quoted in another report as saying that 30 million households have solar hot water, nearly 60% of the worlds’ installed capacity. Wind power in China saw $600 million USD of investment. The news report indicated that China has plans to get 10% of its electricity from renewable energy by 2010, increasing it to 20% within a further 10 years. Via ::China.org.