A recently released report from the China Greentech Initiative outlines the how and why China will become one of the largest, if not the largest market, for green technology in the coming decades. Per-annum estimations of the worth of this massive market range up 1 trillion dollars, an impressive sum.
With a population swelling over a billion and a rapidly growing urban population China needs energy. It isn’t hard to imagine how this could prove to be an enormous market for clean and green-tech corporations.
Fu Zhihuan, a senior Chinese legislator, summed up the bilateral relationship by noting the U.S. has “technology, capital and expertise.” Mr. Fu added, “China has huge markets.” – Wall Street Journal
The key to the success of green energy technology in China is government support for investment, without which any serious growth in this sector would be less than likely. The good news is that the Chinese government has good reason to support alternative energy solutions. China is largely dependent on foreign sources of fossil fuels that are sure to rise in price over time and threaten their economic growth and national security.
There are already signs of green shoots of the green Chinese economy.
This week, China’s government gave preliminary approval for an Arizona-based company, First Solar Inc., to develop a colossal system of panels over the coming decade to produce 2 gigawatts, or 2 billion watts, of electricity in the desert of Inner Mongolia. – Wall Street Journal
