China Invests in an Alternative Energy Future
May 20th, 2008 | By Contrarian Profits | Category: Featured, Financial NewsChina is already the world leader in producing solar cells – now it wants to make a grab other sectors of the alternative energy market.
“Prepare for the onslaught of relatively inexpensive Chinese turbines,” said Steve Sawyer, head of the Global Wind Energy Council, in Wired magazine.
In 2007, China became the world’s number one producer of photo-voltaic cells, holding 35% of the market. Sawyer reckons that China will make enough equipment to generate 10 gigawatts of power annually by 2010 — more than half the capacity that the whole world installed in 2007.