A new report from the China Greentech Initiative, which is made up of several dozen alternative energy companies and government organizations, says that the potential for green technology sales in China is as much as $1 trillion.
PricewaterhouseCoopers helped compile the research.
The report says that the total green tech “addressable market” in the world’s most populous country is roughly comparable to 15% of China’s forecasted GDP in 2013.
China Greentech Initiative makes clear in its report that, without government support, the potential of the Chinese market will never be reached. But, the research shows that China as a great deal of incentive to replace carbon-based fuels, which are likely to rise in price over the next several years, with alternative energy. The data show that roughly 18 million people migrate from rural areas to the cities each year, so that by about 2050 China will have more than 200 cities with populations of more than 1 million people.
First Solar (FSLR) recently announced that it would build the largest solar field in China. China’s own solar technology industry is growing quickly. Today, the mainland must rely on crude which it imports for a huge part of its energy needs. China does not likely to be beholden to the West, the Middle East, or Russia for any of its strategic commodities needs. That, by itself, may help China become the largest alternative energy market in the world.
Douglas A. McIntyre
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