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Rani Jarkas observes that China’s vision to be a “renewable energy monster” will open up investment opportunities in the clean energy sector. As of now, partly spurred by the 1.1 million deaths per year from air pollution, China has rolled out the world’s biggest investment in renewable energy.
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China, through its rapid industrialization in the last four decades has found itself in an environmental dilemma due to ignoring clean technology. With atrocious air pollution causing smog clouds and respiratory diseases, China started on a campaign to produce clean renewable energy to power its manufacturing industry.
Rani Jarkasobserves that China’s vision to be a “renewable energy monster” will open up investment opportunities in the clean energy sector. As of now, partly spurred by the 1.1 million deaths per year from air pollution, China has rolled out the world’s biggest investment in renewable energy.
Cost effective clean energy The biggest problem that haunted clean energy adoption was the high costs involved. China’s large scale investment in clean energy has seen the tables turn and brought down the cost of renewable energy worldwide. Solar generated electricity is now as affordable as electricity from fossil fuels like coal and natural gas.
China is installing wind turbines and solar panels at an amazingly high rate such that every hour, a wind turbine is erected and enough solar panels to cover a football field are installed. In 2016 alone, 35 gigawatts of electricity generated from solar panels were added to the grid. This amount almost matches Germany’s entire capacity.
Investment opportunities in alternative energy Coal is responsible for 40% of the dangerous pollutants in the air in China. As such, China has singled out coal as a dangerous energy source and replacing coal is a priority.
In their efforts, China has set a target to obtain 20% of their energy from renewable sources by the year 2030. A total of $360 billion has been allocated for this effort in the next three years. A strong backstop is therefore presented for investors who have their money in clean technology in China.
Rani Jarkasposes the example of Jinko Solar located in the Yangtze River Delta. Jinko Solar have stepped up to meet demand and last year alone, they produced enough solar panels to generate the electricity capacity to power 10 coal-powered plants.
Apart from this, they also export solar panels to North America, the Middle East, Asia, Europe and South America. This is an example of the ripe opportunity for investors to profit from the rapidly growing clean energy sector in China.
Curbing carbon dioxide emissions In a 2014 landmark deal that saw President Xi Jinping of China and former President Barrack Obama admit that China’s CO2 emissions would peak around 2030, China set on a campaign to adopt renewable energy.
Mainly due to the domestic air pollution, it has become China’s personal agenda. Rani Jarkas reassures investors to invest in renewable energy since China is determined to stick to the commitment even when other states overlook the Paris climate agreement.
In the wake of these reforms, coal consumption has fell for three consecutive years since 2014. Coal is the main fuel source for industries and electricity production and cutting back on it leaves a huge gap to be filled by companies producing clean energy. With this level of government support, the future for clean technology in China is bright.
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