China triples investment in solar energy to $4.3 billion Shutterstock

China triples investment in solar energy to $4.3 billion

Olena Yatseno

This figure is 204% higher than the same period last year

In the first quarter of 2022, the People's Republic of China (PRC) tripled its investment in solar generation, to $4.3 billion.

Thanks to increased investment in the industry, China has been able to set a record number of new clean energy production capacities, informs Bloomberg.

For the four months of 2022 (January-April), investments in green energy in China amount to 29 billion yuan (about $4.3 billion).

This figure is 204% higher than in January-April 2021.

In total, in the first 11 months of 2021, China has invested 51.3 billion yuan in solar energy.

By 2030, China intends to build a large and flexible network to reduce carbon emissions. China aims to become fully carbon neutral by 2060.

So far, China is actively using coal, and the country intends to use it for the transition to green energy.

As reported EcoPolitics earlier, in China launched rooftop solar power plant with a capacity of 120 MW. Inverter manufacturer Sungrow said it was the largest rooftop solar plant in the world.

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