China is the largest investor in renewable energy for the fifth year in a row, as it continues to expand its renewables investment.
The country has now installed 149 gigawatts of wind power and 77GW of photovoltaic power, ranking first in the world for both. China has become the largest R&D base and market for semiconductor lighting products, with the industry now worth over 420 billion yuan (US$62 billion).
The data shows that the country’s energy mix is becoming cleaner. Over the past five years, carbon dioxide emissions and energy consumption per unit of GDP have both shrunk by a larger margin than expected.
About 68 percent of the increase in China’s energy consumption over the 13th Five-Year Plan period (2016-2020) is expected to come from non-carbon energy and natural gas, and the total investment in renewables to reach 2.5 trillion yuan (US$380 billion).