I've just finished going through this free report on China's renewable energy programme just released on Renewable Energy World, which is dated January 2008. Apart from the odd bit of Chinglish, it's very good. Here are what I consider to be the highlights;

1. China will have to invest a staggering $263 billion by 2020 to meet its renewable energy targets. As there is a planned 170 GW of additional hydropower capacity which costs, conservatively, approx $1.2 billion per gigawatt then that leaves about $59 billion for solar, wind and biopower.
   

2. Wind - In 2009 China will become the world’s largest producer of wind turbines. In  2009 and 2010, Chinese  wind turbine manufacturers---Jin Feng (Golden Wind) and Hua Rui---will start to export. So deflation  in the cost of  these machines is finally in sight. This is big news.
   

3. Biofuels - China has approximately 212 m hectares of wasteland which could be cultivated for biofuel producing crops. Leaving aside the questionable benefits of biofuels, modern China likes to think big so don't think they won't try.
   

4. Solar PV - China only has 15 MW of it. The solar emphasis continues to be solar thermal in China and the cheapest solar thermal unit costs just $150. When will they start exporting them?
   

All of this for me is leading to one point - the next big wave in alternative energy  (after biofuels, solar, etc. ) ought to be Chinese alternative energy companies. There's also the added bonus that Chinese stock markets were down as much as 50% until a few days ago and oil is now at $118 a barrel. Chinese alternative energy companies - i.e. the ones who are investing in China have a lot of work to do. Finally, don't discount the very good chance by the end of the year that China's currency - the Renminbi - will float and appreciate upwards. That will alleviate the buying power of China's rural poor currently faced with record food prices. Of course, such a course of action will be denied right up until after the event, but no Chinese government wants to face down a new peasant revolt.