Connect with us

Hi, what are you looking for?


Clean Power

China Invests $30 Billion in Renewable Energy; Economy Rebounds

China’s economy makes stunning rebound:

China’s economy grew nearly 8% in the second quarter of 2009, the government said, in a stunning turnaround for the Asian powerhouse that offered some hope for the rest of the world.

Analysts said the rebound in China would offer a boost of confidence for the global economy as it struggles out of the worst economic crisis since the Great Depression of the 1930s. To fight the downturn, the government had begun implementing an internal infrastructure stimulus package from November last year.

China’s exports dropped 21%.

Yet its overall industrial output actually expanded 9%!

Wait. How can that happen?

Because China is investing in its own renewable energy infrastructure:

Urban fixed asset investments rose 33 percent in the first half of 2009.

Renewable energy investments have been launched by the U.S. government this year, as well as by governments in Europe and across Asia.

But China’s stimulus is by far the most sweeping, with massive investment in renewable energy, including wind, hydropower and solar development:

China has invested $30 billion dollars in renewable energy.

Asian stimulus packages could lead to new waves of demand for renewable projects in China. As a result, global demand across the supply chain could shift from Europe and the U.S. to Asia.

“Upcoming solar-power installations have the potential to surpass the original 2020 target of 1.8 GW by up to 10 times, reaching between 10 GW and 20 GW over the next 10 years,” said said Asia Pacific energy and power systems program manager Irina Sidneva.

China is more infamous for supposedly “putting up a new coal power plant every week”. It appears that the Chinese government is not afraid to pick winners and losers. Fossil energy sources are the losers in this socialized energy stimulus package.

Image via Te We Liu

Via Terra Daily and The Wall Street Journal

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

writes at CleanTechnica, CSP-Today and Renewable Energy World.  She has also been published at Wind Energy Update, Solar Plaza, Earthtechling PV-Insider , and GreenProphet, Ecoseed, NRDC OnEarth, MatterNetwork, Celsius, EnergyNow, and Scientific American. As a former serial entrepreneur in product design, Susan brings an innovator's perspective on inventing a carbon-constrained civilization: If necessity is the mother of invention, solving climate change is the mother of all necessities! As a lover of history and sci-fi, she enjoys chronicling the strange future we are creating in these interesting times.    Follow Susan on Twitter @dotcommodity.


#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.


Support our work today!


Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports


EV Sales Charts, Graphs, & Stats


Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Clean Power

A massive treasure chest of offshore wind energy lies between New York and New Jersey, and it is finally available for the taking.

Clean Transport

Oshkosh debuts electric fire trucks and a whole EV system to boot, which could help put out that fire over its Postal Service fleet...


The US Department of Defense is eyeballing energy efficient trucks and silicon EV batteries to cut down on climate-killing fossil fuels.

Clean Power

The Gulf of Mexico is finally ready for its offshore wind power closeup, and the state of Louisiana is ready to pounce.

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.