The nation is attracting foreign companies like Vestas with its growth and low wages
By Sarah Wolfe
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In the past two years, China has shot ahead of the global competition to become the top manufacturer of solar panels. It also last year became the world’s largest maker of wind turbines. With these accomplishments, China is aiming to also win out with nuclear reactors and more efficient coal plants.
According to the The New York Times, these efforts to take over renewable energy technologies could – in exchange for foreign oil - eventually lead to a dependence on China for solar panels, wind turbines, etc.
During President Barack Obama’s recent State of the Union address, he pointed out the US was lagging in renewable technology development and being trumped by other countries including China.
“I do not accept a future where the jobs and industries of tomorrow take root beyond our borders – and I know you don’t either,” Obama said. He then called for a redoubling of the nation’s efforts to make headway in the industry.
It’ll take some catching up, however, as China is on a renewable development fast-track that’s leading multinational corporations to build facilities within the country, based on the rapid growth a cheap labor costs. The New York Times reported Vestas of Denmark just installed the world’s largest wind turbine manufacturing complex and transferred the technology to build the latest electronic controls and generators.
While China is set to pass the US in power generation in 2012, a majority of its sources will still be from coal. In 2020, it’s projected that two-thirds of the nation’s energy will be from coal-fired plants and nuclear and hydropower the next largest sources. The 15 percent-per-year rise in domestic energy demand, however, could drive other sides of the renewables industry up, however, as well as the efforts of a new national energy commission focused on policy and led by Prime Minister Wen Jiabao.
Learn more at: The New York Times
(Edited by Kevin Doyle)