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The Low Carbon Economy Ltd

24 Aug 2009 04:08:10

China leads the way in green energy



China leads the way in green energy
China is fast becoming the world's green energy powerhouse, with a number of new projects setting the country above other nations in this area.

The Daily Telegraph has pointed out that China is excelling in grid parity with fossil fuels, as well as solar energy innovation.

Examples of this include Suntech Power, which is the new world record holder for capturing photovoltaic solar energy.

In addition, Suntech, Trina and Yingling are all expected to drop below grid parity targets by 2012 and Trina Solar has established itself as a top low-cost solar power firm.

Ambrose Evans-Pritchard from the newspaper pointed out that the recession has not affected energy efficiency policies in China as much as in Europe and the US.

He stated: "The credit crunch has been brutal for solar start-ups in the West, but not for Chinese firms with access to almost free finance from the state banking system.

"They have taken advantage of the moment to flood the world with solar panels."

The Daily Telegraph has warned of the possibility of a power crunch for countries that do not prepare properly to use new energy sources.

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