China – Fueling a New Green Economy
- Aug 25, 2009
This week, while working across China on a series of new development projects, major green economic initiatives are front page news. Back in the US, domestic development community struggles with financial market challenges, along with the cost/value assessment of new green building technologies and materials. China’s aggressive development expansion marches on with rapid advancement in sustainable building. The pace of this shift in China is fueled by government policy, subsidies and private business growth, based on continued domestic market development.
Increasing focus on incentives for carbon emission reduction and green energy technologies are not just impacting the direction of industries in China, but rippling across the globe. With the help of government subsidies and a pricing strategy set at below cost, Suntech, China’s biggest solar panel manufacturer, has been gaining global market share while driving down costs. This year they are on track to overtake Germany’s largest supplier, and move into the second place spot globally, behind the US’s First Solar.
This week’s headline news quoted China’s director-general of climate change, for the first time giving a time frame for a decline in greenhouse gas emissions – 2050. Green initiatives and consumer preferences from smaller car engines to energy-saving light bulb technology are shifting major markets already.
The exponential shift created by these economic strategies are impacting our work today, and the direction of all of our industries tomorrow.