China’s Renewable Energy Law is among the most aggressive in the world. Well implemented, the law could catalyze renewable energy markets and production on an unprecedented scale.
The Renewable Energy Program supports China’s policy efforts to encourage bulk purchases of renewable energy by China’s electric utilities and independent power producers in order to drive down costs and speed the broad introduction of renewable energy technologies. The program encourages the development and implementation of new renewable energy policies that establish aggressive targets for national and provincial renewable energy deployment, including “mandatory market share” (a.k.a., renewable portfolio standards) programs, public benefits wires charges, wind concession programs, and renewable energy pricing regulations. China’s renewable energy industry, particularly its wind industry, is growing rapidly. Installed wind generation capacity has increased by 40 percent each year for the past three years. The overall market share of renewable energy remains extremely low, however: despite its recent growth, wind only accounts for 0.25 percent of all power generated in China. Many barriers, particularly the lack of a favorable tariff that recognizes wind's 'all-in' social benefits, inhibit the large-scale growth of China’s most cost-effective renewable energy resource. > |
