China to allocate around $360.7 billion for renewable energy development in 2016-2020

Almaty. January 6. Silkroadnews – China’s total investments in renewable energy development during the 13th Five-Year Plan (2016-2020) are expected to reach 2.5 trillion yuan (about $360.7 billion), “Xinhua” agency writes.  

According to China’s National Energy Administration (NEA), by 2020 the renewable energy use will allow reducing carbon dioxide emissions by 1.4 billion tonnes, sulfur dioxide – by 10 million tonnes, nitrogen oxide – by 4.3 million tonnes, smoke and dust – by 5.8 million tonnes and water consumption – by up to 3.8 billion cubic meters per year.

Besides, using the renewable energy sources will create more than 13 million jobs.

The NEA official also said, in 2016-2020 China’s total installed capacity of power plants using renewable energy sources is expected to increase by an average of 42.5 million kw annually, meaning about 50% of growth of the country’s electricity generation capacity will be provided out of the renewable energy sources.