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Implications:
China’s position as the world’s largest investor in renewable energy is likely to strengthen.
One of the key sources of renewable energy for China is wind energy.
The central area for wind energy development is Inner Mongolia, where a majority of China’s energy resources are found, principally coal.
China’s ambitious renewable energy goals will have wide ranging impacts.
Analysis:
China derives close to 8% of its energy from renewable energy including the massive Three Gorges Dam.China is planning an ambitious program to bring the energy supplied from renewable sources to 15% by the year 2020.In addition to planning to build 30 nuclear power plants to supply 4% of the national energy demand by 2020, a major program in biofuels could produce nearly 10% of required transport fuel by that date.
One of the most ambitious targets is 5,000 megawatts of wind energy by 2010 and 30,000 megawatts by 2020.China requires that 70% of the installed wind equipment come from China, which comes in the midst of a worldwide shortage of wind turbines and a lengthy waiting list.This has led to a boom in wind turbine manufacture in China with most of the major manufacturers building installations for complete systems, blades or critical components.It is reasonable to anticipate that Chinese manufacturers will also develop their own designs and create a
China’s Renewable Energy Law went into effect in January 2006, but did not set a rate for the production of wind energy.While a subsidized tariff is expected to be announced in the near future, the equivalent of a gold rush for wind concessions is occurring in the best wind regions, principally Inner Mongolia.This Autonomous Region of China is a vast area with a low population density that is ideally suited for wind energy development.The central area of Inner Mongolia is the Xilingol League, which is expected to have at least 4,000 megawatts under production by 2010, representing a major share of the national target for wind.China’s ambitious program could lead to investments of US$250 billion or more and have a significant impact on the development of renewable energy globally.
A commercial Hydrogen Industry is a myth!