The growth of China's renewable energy capacity has been accelerated by a combination of government encouragement and market guidance, says a GlobalData report,
30 June 2014
Ambitious policies drive growth of China’s renewables
China’s renewable energy capacity increased from
27.8 gigawatts (GW) in 2001 to 183 GW in 2013, and
alternative sources are expected to account for more
than 20 percent of the country’s total electricity
generation by 2020. The growth has been
accelerated by a combination of government
encouragement and market guidance, says a report
China is emerging as a major player in the global renewable energy industry, and the leading
country in the Asia-Pacific region, states the GlobalData report.
"Soaring energy demand, expeditious industrialization and international pressure to reduce
greenhouse gas emissions have impelled China to increase its share of renewable energy," said
Harshavardhan Reddy Nagatham, GlobalData's Analyst covering Alternative Energy.
“The country has introduced feed-in tariffs (FiTs) at the state and provincial level in order to
promote the development of alternative energy, which has contributed to substantial capacity
additions over the last decade, especially those of wind and solar power. This growth is expected to
continue thanks to the government’s ambitious targets for renewables.”
Solar PV continues to grow strongly
China is aiming to add 15 GW of solar Photovoltaic (PV), 5 GW of wind, 0.53 GW of geothermal
and 3.3 GW of biomass power by 2015, according to GlobalData.
“China’s National Energy Administration planned investment of around USD39.5 billion for the
development of solar power between 2011 and 2015,” Nagatham continues.
“The government instigated a number of major support measures, most notably the Golden Sun
Program, the Building Integrated PV subsidy program, and FiTs for solar projects, such as the ‘One
Million Rooftops Sunshine Plan’ in the Shandong province.”
“Consequently, the Chinese government revised the target for the cumulative installed capacity of
its solar power to 35 GW by 2015, a considerable increase from the original target of 21 GW set in
2012. This will also contribute significantly to the growth of PV installations in the near future,”
concludes the analyst.