China To Spend 180 Billion Dollars To Boost Renewable Energy Use

Beijing (AFP) Nov 07, 2005
China said Monday it would spend about 180 billion dollars over the next 15 years to increase its use of renewable energy to 15 percent of the total generated, from the current seven percent.

http://www.terradaily.com/news/energy-tech-05zzzzzzzzc.html

Quote:
"Renewable energy, including solar, wind power and hydropower, will contribute to better energy security in China," said Zhang.

"It also delivers substantial economic and environmental results, alleviating poverty."

In the coming 15 years China will develop biomass energy, which stems from plant and animal matter, and hopes to replace ten million tons of petroleum with renewable energy annually, Zhang said.

so many people brush off peak oil by saying "we'll just switch to alternatives. nuclear, biomass, geothermal, solar, wind, etc." to which i always respond "how much is it going to cost to convert our infrastructure? how long is it going to take?" here's some evidence: it's going to take 15 years and 180 billion for china to go from 7% to 15% (still woefully inadequate). anyone STILL think we can just switch to alternatives and the problem will just vanish?