Renewable Energy's Largest Investor: China
Renewable energy is a top priority in China now, as the world's largest consumer of energy vowed to become the largest investor in renewable energy sources, kicking it off with $470 billion in investments in the next five years.
Environmental concerns and a dependency on foreign sources of energy are starting to wear on the world's second-largest economy and largest consumer of energy. It is also the largest producer of harmful greenhouse gases, according to the Economic Times.
The rise in energy cost and use has come from the rapid increase of factories and building in previously unindustrialized parts of the country.
To change that, the country has set a goal that by 2021, 20 percent of its energy demand is met by solar and wind energy.
The announcement comes just after the U.S. Trade Commission decided to look into complaints from seven U.S. solar companies that say Chinese competitors are hurting the American solar panel industry by selling solar products at prices much lower than competition.
China criticized the decision, saying the claims were not justifed and that the U.S. was exhibiting its ever-present protectionist tendency.