China’s energy savings investments set to rise

Will reach US$340b in energy saving, emissions control projects.

China’s Environment Ministry is also considering stricter controls on vehicle and industry pollution. It is also boosting solar power goals to curb unrelenting pollution from its overreliance on dirty coal. China believes that once renewables are added, pollution from coal-fired power generation could start to fall by 2027. China accounts for half of the world’s coal consumption. Despite plans to rely more on renewables and gas generation, coal’s share in the power mix will remain at a high of 58% in 2030. This compares to 72% in 2012.

China plans to reduce total coal consumption to less than 65% of total primary energy use by 2017 as part of a comprehensive new plan to combat air pollution. China aims to raise the share of non-fossil fuel energy to 13% by 2017, up from 11.4% in 2012.

Its previous target was, however, was higher at 15% by 2020. China ranks first in the world in drawing clean energy investments, receiving US$65.1 billion in 2012. It has provided nearly US$40 billion dollars to other countries’ solar and wind industries over the past decade.