A Memorandum of Understanding signed at the U.S.-China Joint Commission on Commerce and Trade is designed to among other things remove barriers to clean energy deployment and accelerate development of clean energy projects. Commerce Secretary Gary Locke says China and U.S., as the world's two biggest energy consumers, have a common responsibility to use clean, low-carbon energy resources and technologies. He says widespread deployment of energy efficiency and clean energy technologies will be essential to keep the two economies growing while preventing the catastrophic effects of climate change.
The MOU supports the U.S.-China Energy Cooperation Program, an innovative new public-private partnership that will allow U.S. companies to work with their Chinese counterparts to help develop clean energy solutions in China. The program will not only leverage private sector resources for project development work but also advance U.S. commercial interests in China. U.S. energy companies with an interest in the Chinese energy market will work together to choose projects that enhance market opportunities and address barriers to trade that individual companies otherwise could not undertake.
The ECP will focus on four areas of collaboration including smart grid development, renewable energy, energy efficiency and clean energy technologies.
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