Solar Energy’s Future Shines Brightest in China
Contrarian Profits (September 14th, 2009) Writes:
With the announcement that it intends to build the world’s largest solar power plant, China is rapidly evolving into the world’s largest market for solar energy. And with heavy government backing, Chinese solar companies are quickly becoming global leaders.
Fast-growing industry and a reliance on coal-fired power plants turned China into the world’s largest emitter of greenhouse gas a few years ago. Clouds of smog far thicker than that of Los Angeles hang over many of its cities and much of the water is densely polluted. But that’s something the central government aims to change.
China plans to reduce energy consumption per unit of its gross domestic product (GDP) by 20% of 2005 levels by the end of next year. It’s more immediate goal is to reduce reliance on coal-fired plants to 60% of its energy production from 70%, and replace with renewable energy sources like wind and solar.
Since 2007, about 54
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