In a recent report, Bloomberg New Energy Finance and the United Nations Environment Programme (UNEP) state that the countries with the largest reported investments in renewable energy in 2010 were China, the United States, Italy, Brazil, Germany, Canada, Spain, India, France, and the Czech Republic.
53% of the $211 billion in new renewable energy investments can be linked back to these ten countries. To gain a better understanding of why these countries are at the top of the list in regards to renewable energy investments, we will take an in-depth look at each countries policies, renewable energy availabilities, and motives.
First up... China
China’s renewable energy development plan is part of the state government’s long-term domestic diversification and self-sufficiency strategy. The country’s renewable energy market grew by 15.5% year-on-year in 2010 to US$20.5 billion. The wide range of alternative power generation systems under the heading “non fossil fuel energy” include hydropower, wind power, solar power, and biogas.
Policies
China’s renewable energy policy structure falls into the following three categories:
First level policies: Provide general direction and guidance. Places an emphasis on speeches from state leaders about the development of renewable energy.
Second level policies: Focus on providing specific goals and developmental plans.
Third level policies: Comprised of specific incentives and managerial guidelines provided by provincial, municipal, and county governments.
Motives
Renewable Energy Availability
China is a major player in the international solar power market, both in terms of production and consumption. In fact, the country manufactured the most solar panels in the world in 2010.
In 2010, every second newly-installed wind turbine, in the world, was installed in China.
China leads the world in total installed hydropower capacity with 213 gigawatts at the end of 2010.
Stay tuned for more countries coming up!
Thank you for taking the time to learn more about renewable energy - Knowledge Is Power! For more information go to www.endeavorscorp.com or write to us at info@endeavorscorp.com if you have questions or want to get involved. Have a green day!
Sources: NREL, China Briefing, China Briefing, China Briefing, Bloomberg New Energy Finance and United Nations Environment Programme (2011)
