The renewable energy industry in China faces hurdles in land access and access to the grid, and despite the rapid development, it still needs policy support to overcome those issues, China’s National Energy Administration (NEA)
KEY POINTS
- In 2022, China’s wind and solar power output surged by 21% to 1,190 terawatt-hours (TWh), according to data from NEA cited by Bloomberg.
- o compare, residential electricity demand last year rose by 14% to 1,340 TWh as people mostly stayed at home due to the zero-Covid policy.
- Despite the surge in Chinese wind and solar power installations and generation, the Chinese industry accounts for around 60% of all electricity demand, according to Bloomberg’s estimates. Residential demand, on the other hand, was just 17% of electricity consumption in 2020.
- China has to remove the hurdles and improve land use regulations and restrictions, otherwise, new solar installations in the eastern and central parts of the country could slow in the future, according to Wang Bohua, the honorary chairman of the China Photovoltaic Industry Association
BOTTOMLIN
War in Ukraine has really exposed weakness in energy security and affordability that have become prime important factors. The energy transition as envisaged in Paris climate conference and COP 27 need to be re-looked? All countries agree on energy transition by 2050, but the pathways and timing is big question. What is the impacy=t of his short term derailment is still to be seen.