Electrify industries, ramp up clean energy capacity, upgrade energy grids. New guidelines on renewables published.
On Wednesday, the Chinese government published guidelines on replacing fossil fuels with renewable energies. Released by the National Development and Reform Commission and five other government departments, the regulations outline how the People’s Republic seeks to boost its clean energy sector to achieve the self-proclaimed carbon peak target in 2030. According to the statement, China expects to reach a renewable energy consumption of the equivalent of more than 1.1 billion tons of standard coal in 2025 and exceed the equivalent of 1.5 billion tons by 2030.
The 17 guidelines set out, among other things, to accelerate the construction of large-scale wind power and photovoltaic systems as well as a ramp-up of green fuel usages such as biodiesel or hydrogen. In addition, China aims to upgrade energy grids and energy storage systems and electrify transportation, infrastructure, and buildings. Heavy industries, such as the chemical sector or steel manufacturing, are also set to be transferred to renewable usage under the regulations, as is agriculture.
The International Energy Agency (IEA) highlighted in a new report this week that China is set to dominate the clean energy sector in the coming decades, in part because of widespread policies issued by the government. Another key element of the People’s Republic’s success is its dominance in the critical minerals sector. The raw materials are needed for various clean energy technologies. However, the agency highlighted that efforts in other countries, such as the Inflation Reduction Act in the U.S. and the EU’s Net-Zero Industry Act, would also help triple the market size of clean energy technologies until 2035.
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