Here’s a fascinating report detailing China’s revolution in green technology.
China’s ‘green technology’ market has the potential to grow to $1 trillion and make up 15% of GDP by 2013, according to a report by the China Greentech Initiative.
“The combination of continuing economic growth, China’s technology and manufacturing capability and strong government commitments, driven by growing fears about climate change and other environmental threats, are creating real momentum in the green-tech sectors,” said Richard Gledhill, global leader for climate change services at PricewaterhouseCoopers, a founding member of the China Greentech Initiative, which is a collaboration between more than 80 technology companies, investors, professional services firms and NGOs.
The “total, addressable market size” for green technology is between $500 billion and $1 trillion, the report concludes. This includes cleaner conventional energy, renewable energy, electric power infrastructure, green building, cleaner transportation, cleaner industry and clean water. The Initiative does not provide an estimate for the current size of the green-tech market.
The first signs of such a “green transformation” are already apparent, the report says, citing the fast pace of renewables growth as one example – wind capacity has doubled every year for the last four years to reach 12.2 gigawatts in 2008 and one in 10 households has a solar water heater installed. The government has a target of deriving 20% of energy from renewable sources by 2020.