China to Spend $1.5 Trillion on Green Energy?

The New Sputnik
13 May 2011
by: Juan Cole

In 1957, a United States shocked by the Soviet launch of the Sputnik 1 satellite bounced into action to compete on the world stage. More than 50 years later, in May of 2011, the US is facing a new challenge. The Chinese Communist Party has decided to launch a crash program to produce green energy, a field where it already has a commanding lead over the US The difference between 1957 and 2011 is that American politics in the meantime have been captured by parasitic or corrupt industries such as high finance and big oil and gas. The Green Gap produced by China's increasing lead in the technologies of the future is not even headlined in America's corporate mass media, much less galvanizing a nation of gas guzzlers and coal junkies.

The disaster at Japan's Fukushima Daiichi nuclear power plant has caused the Chinese Communist Party to reconsider its plans to vastly expand its own nuclear power industry. The government of President Hu Jintao is thinking instead of vastly expanding the green energy sector, aiming to produce 50 gigawatts from solar energy by 2020, up from a previous goal of 20 gigawatts. If the new goal can be met, it will be an impressive accomplishment in its own right. The six reactors at the Fukushima nuclear power plant, among the largest such plants in the world, produced 4.7 gigawatts, so the Chinese solar plants would be the solar equivalent of more than four such complexes.

The real promise, however, is that if the Chinese government really does throw a trillion and a half dollars at solar and other renewables over the next decade and a half, the cost of producing energy in that way is likely to plummet. The Middle Kingdom already produces half of the world's solar panels. The bad news for the United States is that China could dominate the rapidly growing and crucial world market for green technology in coming decades, leaving literally in the dust a Rust Belt America wedded to dirty coal, oil and water-slurping shale extraction. more