Energy

Huge opportunity in China's clean energy market

(Xinhua)
Updated: 2011-04-11 11:16

BOSTON - China's clean energy market offers huge business opportunities, experts said at the Harvard China Forum Saturday.

In a panel discussion on clean energy, experts who have been keeping a close eye on China's renewable sectors evaluated its market size, development level and current challenges.

"No matter it comes to wind, solar or any other type of clean energy, the market capability in China is enormous," Peter Evans, GE Energy's global strategy and planning director said.

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Evans said he believed China has the need to develop all kinds of energy in order to meet its ever-growing appetite for energy, especially against the background of high oil price, which just surged to nearly $113 a barrel.

He also said China now has the capital needed to develop clean energy but lacked the technology, although that would not be a problem since "every abroad company related to clean energy wants to go to China and to grab something."

Gong Li, chairman of Accenture Greater China, said that for a better development of China's renewable sectors, sustainable policy support is needed.

On current challenges, Li said one big problem is the lack of network to turn clean energy into electricity. "Renewable energy such as solar and wind is intermediate energy that needs to be transmitted to the power grid, or else it will be garbage energy," Li said.