China gains momentum with its renewable energy endeavors

February 27, 2014 0 By Angie Bergenson

China is closing in on the US when it comes to clean power

Renewable Energy EndeavorsChina has managed to narrow the gap between itself and the U.S. on the renewable energy front, according to analysis from EY, a leading professional services organization. The analysis shows that China has managed to close the gap after a very successful year in terms of installed solar capacity. While the U.S. maintains a lead over China in the renewable energy space, China has managed to outpace other large countries that have been focusing on clean power, including Germany, Japan, and the United Kingdom.

Country reaches a record with installed solar energy capacity

China has become a very attractive market for energy developers over the past year. In 2013, the Chinese government provided a great deal of support to the solar sector, helping fund the mass production of photovoltaic products that have been distributed throughout the world. The country has also been supporting wind energy more aggressively in order to generate further economic activity and address environmental issues. In 2013, China installed more than 12 gigawatts worth of solar capacity and plans to install another 14 gigawatts of capacity this year.

US is falling behind on wind energy

China is beginning to establish a lead in the wind energy sector. In the U.S., the support the government has been giving wind power has diminished significantly. The Production Tax Credit, which had provided the majority of the financial support that wind projects in the U.S. had received, expired at the beginning of the year. While some wind projects will continue to receive financial support due to some of the stipulations of the Production Tax Credit, the future of wind energy in the U.S. is largely up to the private sector to determine.

China aims to address environmental problems with clean power

China’s interest in renewable energy has heightened over the past year due to the country’s ongoing and increasingly notorious air pollution problem. Many of China’s largest cities are being choked with smog, which can be so thick that residents of these cities cannot see even a foot in front of their own faces. Air pollution is also being linked to serious health problems, such as lung cancer, which has brought a great deal of criticism to the Chinese government.