China plans to put a halt to wasted renewable energy by 2020
The National Energy Administration has announced that China intends to put a halt to the waste of any power created from the renewable energy sector by 2020.
Improving efficiency within the energy industry is a massive challenge within the renewables sector. The energy created from solar, wind and hydro plants is currently not utilised as effectively as possible, resulting in wasted energy due to not enough transmission capacity to collect the energy. The National Energy Administration explains that China is currently enhancing its facilities within the renewables sector to improve energy retainment rates.
Hydropower plants in the southern provinces are due to reach approximately 90% efficiency by the end 2017. The NEA believes the wind energy curtailment rates will reduce rates of between 20 and 30% in the northern provinces. Any waste associated with the solar sector is due to decrease to between 10 and 20%. Energy Storage and efficiency is a massive project for China and with plans to increase its use of renewable energy sources by 15% over the next two years, it is imperative that the industry is utilising all energy generated from the industry.
The solar industry is boosting the overall growth of the renewables industry globally and China is the dominant player in this industry. PV technology has grown faster in 2016 than any other fuel source. China accounted for 40% of the overall growth of the renewable sector, driven by government policies to reduce air pollution and meet capacity targets set in the nation’s five-year plan. China has already exceeded its initial solar targets for 2020 and is likely to achieve the goals set for the wind industry by 2019.
China is a dominant player in the industry and has a major influence on the market development and the overall costs associated with PV technology. The nation currently represents 50% of the solar demand worldwide, and companies within China account for over 60% of the total solar cell development capacity globally.
With this level of control and dominance over the market, any policies developed in China will have significant impacts on supply, demand, and prices worldwide.
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