China becomes a new leader in the use of alternative energy

China continues to make every possible effort to move to renewable energy sources. The new report of the Institute for Energy Economics and Financial Analysis (IEEFA) clearly shows how clearly the Celestial Empire strives to become a leader in the production of energy from renewable sources.

According to the lead author of the report, Tim Buckley, head of the Energy Finance Research Unit at IEEFA, the US decision to abandon the Paris agreement has become an important catalyst for China's growth in the growing global market for renewable energy sources.

This does not necessarily mean that now China will fill absolutely all the niches left by the US leadership as a result of the rejection of the Paris agreement, but it definitely will give the country technological superiority and financial capabilities, allowing to dominate in such fast-growing sectors as solar energy, electric vehicles and battery production.

Experts from the International Energy Agency (IEA) believe that China's dependence on coal will continue to decline, while the country's investments in world alternative energy projects will continue to grow.