China’s Alternative Energy Development Costs = 1.2 Billion Olympic Gold Medals
Michael Phelps’ seven eight gold medals are impressive. But with an Olympic gold medal’s actual value at around $220, he would have to win 1,204,545,448 (7) more of them to raise the money China will need to meet its aggressive alternative energy goals of 137 gigawatts of renewable energy by 2020. Or, put another way, if China were to pay for clean energy with Olympic gold medals, they’d need another 172,077,922 Michael Phelps on their side.
By 2020, China’s bill for ramping up renewables to 16% of the nation’s total energy will come to $265 billion USD (2 trillion yuan). Then again, with the second largest economy in the world, China should have little trouble funding this investment — even without the mighty efforts of Phelps.
