Probably because they recognize that they have a huge population that has aspirations to more upscale lifestyles together with the fact that they recognize the limitations of non-renewable energy sources.
But note, however, that China is also making huge investments in non-renewable energy sources all over the world, from conventional oil (including Canadian tar sands) to natural gas, coal, and uranium – probably way more in terms of investment than in renewables.
Oops, should have said conventional oil AND Canadian tar sands. The latter are considered unconventional oil resources.
This is China wishes to be seen as a world leader in renewable energy in the coming century, despite the fact that it is currently the world’s largest polluter. The 34.6 billion dollars invested in renewable energy has surpassed the investment total of the US by more than half. China will soon be the world’s largest market for wind energy, produces the most wind turbines, and a one-megawatt wind turbine is installed every hour there. It is also making one-third of the world’s solar panels, the most in the world, and will soon produce one of the world’s first mass-produced electric cars.
I believe China can invest money on this scale because the single-minded Chinese bureaucracy can easily put large-scale projects into action, in contrast to the fragmented democratic process in places such as the US.
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