Coal is a non-renewable source of energy, it is the sole-provider of energy in China and is heavily dependent on that industry.
As light has been shed on the extravagant amount of carbon emissions from that country alone, the government has been driven in the renewable energy sector. They have invested heavily on "going green".
China has a strong manufacturing industry, they have initiated renewables such as wind turbines and solar photovoltaic cells. With its mass production and government driven employment of renewable energy in domestic situations as well as larger operations, for example, hotels and office buildings.
China's government has been trying to decarbonize by putting 30 to 40 gigawatts of renewables out every year- thats a lot of energy! The country has been rapidly constructing solar farms across the country.
Image showing a fishery-solar hybrid photovoltaic power station in China
The Chinese have their own homegrown technology in wind and solar, therefore suffocating out the chances for foreign investment. They do not need any "extra" financing or technology. In essence of China's foregoing play in the renewable energy sector, they will be self sufficient in terms of renewable (solar) energy production and supply of solar photovoltaics as well as economically speaking, as the energy sector will be highly profitable.
References:
1. Shao, G. (2019). China does not need foreign tech or money to decarbonize, energy consultancy Wood Mackenzie says. Retrieved 9 November 2019, from https://www.cnbc.com/2019/11/04/china-does-not-need-foreign-help-in-renewable-energy-wood-mackenzie.html
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