China will invest $360 billion in renewable energy

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According to Reuters referring to China’s National Energy Commission, the country will invest up to 2.5 trillion yuan ($361 billion) in renewable energy by 2020.

Implementation of the plan will create 13 million jobs in the energy sector. The purpose of the program is bringing the share of renewable sources in the total energy production to 15% by 2020, which is equivalent to 580 million tons of coal.

It is planned that in 3 years all renewable sources in general, including nuclear and hydroelectric power plants, will account for a half of the generated electricity.

In July 2016 economists from China, Great Britain and the United States came to the conclusion that China starts to reduce the production and use of coal. Scientists named three main reasons for this trend: the economic slowdown, the decline in the coal industry, and the current economic policy of reduction the dependency on fossil.

China is the third country in the world (after the U.S. and Russia) by the explored coal reserves, and the first by its consumption. The use of coal helpedĀ the industrial revolution, but now environmental concerns led to its abandonment. China, like other countries of the world, is transitioning from coal to solar, wind, nuclear and hydropower.

Source:Ā Lenta.Ru