One
of two co-founders and one of three managing directors of the China
Greentech Initiative, Elle Carberry, resides in China to truly keep her
finger on the ever changing pulse of country's greentech industry.
Elle
weighs in with us on everything from the speculative talk of an
economic hard landing in China to their aggressive and successful
efforts at creating a Strong and Smart Grid Plan.
As
rumors and speculations swirl about the possibility of China
experiencing a hard landing, how could that affect the country's efforts
and ambitions in the greentech industry? It's a question that has been
looming for months.
"Generally from '09 to now China has been trying to stimulate
domestic consumption – and China knew it had to do that—it knows it has to do
that—there’s no choice about it—its what you do. Their average GDP per person
is growing all the time. China has an emerging middle class where their incomes
are going up 10 and 15 percent year over year, so it’s tangible. People have
money but people need to spend money and they need to spend it in their own domestic
economy," Carberry said.
For
China, one of the answers has been to move forward with greentech
initiatives. Despite setbacks, maintaining and increasing greentech
targets is essential.
"The solar industry in particular has been through a bit of a
hit, so they immediately increased the targets for how much solar and wind power
it wants to produce in this current five year plan," said Carberry.
"It’s already been making adjustments directly
through the mandate that says the country will install this many gigawatts of
wind and solar and biofuels, that’s
the kind of thing that they will continue to do."
One
of China's particularly interesting greentech initiatives is Waste to
Energy (WtE) efforts. WtE refers to taking any biofuel/waste and finding
ways to harness it for a growing population's energy consumption
needs.