Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

China's Multi-Billion Dollar Renewable Energy Program Set for Launch Soon

China is reportedly planning to produce 15% of its electricity from low-carbon technology by 2020, and to reduce it’s carbon intensity by 40-45% from the 2005 level.

[social_buttons]

Zhang Guobao, head of the National Energy Administration, told the government-owned newspaper China Daily this last week that a national program consisting of billions of dollars of investment in wind, solar and nuclear power would be launched sometime soon.

Zhang said that this program will stimulate fast and dramatic action in the renewable energy sector over the next five years.

“Power projects take a long time to get up and running, and we are basically allowed five years to complete them although it is a 10-year programme,” he told the paper. “Otherwise, the facilities cannot be put into use by 2020.”

Beyond this major plus for renewable energy and renewable energy investors in China, China’s top legislature — the National People’s Congress — also recently changed its renewable energy law to require that power grid companies buy 100% of the electricity produced from renewable energy generators.

A key to making use of these renewable energy sources is a smarter grid, of course. Noticing the great advancement of renewable energy and smart grids in China, IBM just recently announced the opening of a new $40 million “Energy & Utilities Solutions Lab” in Beijing.

Brad Gammons, vice president of IBM’s Global Energy & Utilities Industry, said that their interest in the Chinese market is due to that fact that China is “pursuing smart grids as aggressively or more aggressively than any other country in the world right now.”

As I’ve discussed previously on CleanTechnica, Obama is aware that “the nation that leads the clean energy economy will be the nation that leads the global economy,” but he is not the sole person in charge of bringing the US to the top (he needs some help from the media and Congress, at least) and China seems to be off to a quick lead with some very big plans for the coming years.

via BusinessGreen, China Daily & Reuters

Image Credit: J. YANG via flickr under a CC license

 

Advertisement
 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

Zach is tryin' to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA], NIO [NIO], Xpeng [XPEV], Ford [F], ChargePoint [CHPT], Amazon [AMZN], Piedmont Lithium [PLL], Lithium Americas [LAC], Albemarle Corporation [ALB], Nouveau Monde Graphite [NMGRF], Talon Metals [TLOFF], Arclight Clean Transition Corp [ACTC], and Starbucks [SBUX]. But he does not offer (explicitly or implicitly) investment advice of any sort.

Comments

You May Also Like

Clean Power

Killer combo of offshore wind and green hydrogen indicates that rapid decarbonization is achievable, if policy makers do the right thing.

Clean Power

Green hydrogen is going down in cost, and concentrating solar power could pick up the pace by ditching electrolysis in favor of a thermochemical...

Cars

This piece continues my annual rundown of the top 10 EV countries in the world! See part 1 if you missed it. By Assaf Oron...

Cars

Shanghai authorities are working closely with Tesla to help it reopen Giga Shanghai after it paused production for 22 days in the broader effort...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.