NEWS - China will invest $361 Billion in clean renewable energy by 2020

According to Global Energy News China is making a massive investment on its future by slowly moving from a coal driven economy to renewable and sustainable energy sources. It will be investing $361 Billion in clean renewable energy between 2016 and 2020. The main focus of the investment is on developing solar, wind, nuclear, and hydroelectric power to sustain and keep up with the high demand. China has the world's largest economy and this requires enormous and unprecedented investments in the energy sector. But the investment is not sufficient as China's demand for energy keeps growing and growing due to its massive economy. Scientist believe that this energy investment is a step in the right direction as it will account for 15 percent of the overall energy consumption. Despite this massive investment in clean energy, coal will be the primary source of energy that will continue to fuel China's economy. Coal will continue to generate more than half of China's energy needs for many year to come.

According to China's National Energy Administration this investment is much needed in order to meet economic needs and expansion. Also, this investment helps China comply with the goals set under the Paris Climate Change agreement.