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China is crushing the U.S. in renewable energy
Key Excerpts from Article on Website of CNN News
Posted: July 30th, 2017
http://money.cnn.com/2017/07/18/technology/china-us-clean-en...
As the Trump administration yanks the U.S. out of the Paris climate change agreement, claiming it will hurt the American economy, Beijing is investing hundreds of billions of dollars and creating millions of jobs in clean power. "Even in China where coal is - or was - king, the government still recognizes that the economic opportunities of the future are going to be in clean energy," said Alvin Lin, Beijing-based climate and energy policy director with the Natural Resources Defense Council. More than 2.5 million people work in the solar power sector alone in China, compared with 260,000 people in the U.S.. While President Trump promises to put American coal miners back to work, China is moving in the opposite direction. Coal still makes up the largest part of China's energy consumption, but Beijing has been shutting coal mines and set out plans last year to cut roughly 1.3 million jobs in the industry, [as well as] pledged in January to invest 2.5 trillion yuan ($367 billion) in renewable power generation - solar, wind, hydro and nuclear - by 2020. China's growing dominance in the [renewable power] sector has had a huge effect on the global market. Manufacturers dramatically ramped up production of solar panels, driven by an estimated $42 billion in government subsidized loans between 2010 and 2012. The U.S. accused China of flooding the market and the Commerce Department started imposing steep tariffs on Chinese-made solar panels in 2012 in a bid to protect American producers.
Note: The world's biggest floating solar power plant was recently built in China. And in the US, the solar power industry now employs more workers than the coal, oil and natural gas industries combined.
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