China is currently looking at including renewable energy in every aspect of the nation’s functioning. The Chinese sun will prove to be source of energy for a number of things in the coming years. China is currently one of the countries making a lot of investments in the renewable energy sector. The cleaner source of energy including wind, solar, and others is something the country has spent on that is $8 Billion in 2005 and $103 Billion in 2015.
Though the green target has only been made domestic, the country is planning to make the green tech available for the rest of the world. However, the country has to face the void created by the U.S. President Donald Trump regarding the climate leadership. Though America is hanging on using clean coal, China believes in shaking hands with other countries to tackle the climate change issue. The nation has set its target that it will be installing minimum one solar panel or wind turbine on an hourly basis.
The Paris agreement and multilateral trade negotiation are the two ends of the same coin but still are facing difficulty to progress. In spite of efforts been taken by some of the nations, there are many other regions that are backing from participating in the global development cooperation. For building its relations with other countries, it has started the development of the trade initiative known as the “Belt and Road.” This helps connect around 68 countries from Africa, the Middle East, and Europe along with the conventional Silk Road trade routes.
Such a drive in China is likely to help boost the use of cheap renewable energy and reduce the countries dependency on the fossil fuels. However, there still exists some qualms regarding the nation’s influential coal industry. China basically wants to help strengthen the worldwide renewable movement. China wants to churn out millions solar panels and wind turbines in the country as well as encourage the other nations to do so. The Chinese companies are currently eyeing the international energy market. Globalizing its clean energy tech is what China is looking forward to. The competition among the fossil fuels and renewable energy companies is going to expand in the coming months.
The Chinese Government has put up a strategic emphasis on investing lump sum on the renewable energy so as to revolutionize the industrial sector. China is going to change the landscape of global energy in the coming years.