renewable energy
China plans to make a greater effort in developing its renewable energy industry and reduce emissions of greenhouse gases to sustain economic growth sustainable in the coming years. Investment worth over two trillion yuan, or 10 percent of gross domestic product (GDP) in 2006, are necessary to achieve the goal renewable energy by 2020, according to the National Development and Reform Commission (NDRC). The exploration of renewable energy is greatly needed in China.
In a press conference in Beijing earlier this week, Chen Deming, vice minister of NDRC, reiterated China's medium and long-term goal is to boost its fledgling renewable energy industry, which is expected to play an important role in sustaining the country's future economic development. Energy source is the hope of resolving the problem of China's serious energy shortage. NDRC plans to increase the proportion of renewable energy in total energy consumption 10 per cent in 2010 and 15 percent in 2020 compared with eight per cent at present, Chen said.
Currently, coal accounts for over a year 70 percent of China's total energy consumption, leaving great potential for development of renewable energies – hydropower, marsh gas, solar, wind and other renewable and clean energy, he added. According to its ambitious development plan, China's installed renewable energy – energy hydroelectric, wind and solar power generation capacity will increase by 190 million kilowatts, 29 million kilowatts and 1.73 million kilowatts, respectively, between 2006 and 2020.
In 2020, the nation's renewable energy installed – hydropower, wind power and solar power generation capacity will reach more than 300 million kilowatts, 30 million kilowatts and 1.8 million kilowatts, respectively. To achieve this goal, China will have to seek more international financial support and cooperation to develop their renewable energy industries in the coming years, said Chen. Renewable energy can contribute to 30 per cent of total energy supply in China in 2050, an energy expert estimated for the power Tuesday.Chinese wind may have the capacity to generate 300 up to 500 million kilowatts of electricity in 2050 and another 200 million to 300 million kilowatts will be generated by solar energy Shi Dinghuan, chairman of the Chinese Renewable Energy Society, said at the Solar World Congress 2007 in Beijing.
The Chinese government also expects and encourages more domestic small and medium enterprises (SMEs), private enterprises, especially, to join efforts in developing renewable energy industry in the country, the vice-minister. He believes there is enough room for both foreign and domestic companies in the sector of the enormous renewable energy.
$11B in Renewable Energy
