China will plough 2.5tn yuan (£292bn) into renewable power generation by 2020, the country’s energy agency has said, as the world’s largest energy market continues to shift away from dirty coal power towards cleaner fuels.
The investment will create more than 13m jobs in the sector, the National Energy Administration said in a blueprint document that lays out its plan to develop the nation’s energy sector during the five-year 2016 to 2020 period.
The NEA said installed renewable power capacity including wind, hydro, solar and nuclear power would contribute to about half of new electricity generation by 2020. [...]
Concerns about the social and economic costs of China’s air pollution have increased as the northern parts of the country, including the capital Beijing, have battled a bout of hazardous smog.
Illustrating the scale of the challenge, the NEA repeated on Thursday that renewables will still only account for just 15% of overall energy consumption by 2020, equivalent to 580m tonnes of coal.
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