The Chinese Government has signaled a significant change in their energy policy, following the publication of a raft of new initiatives which will trigger an increase in the consumption of renewable energy and lower curtailment rates. The National Energy Administration issued its final policy paper on the country’s renewable portfolio standard (RPS); a benchmark standard that will become effective in 2020 for five years.
The policy sets the foundation for Beijing’s aim to increase the share of non-fossil fuels to 20% of primary energy consumption by 2030. The percentage stood at 14.3% in 2018, nearing the country’s medium-term target of 15% set in its plan for 2016-2020.
China, which is already the world’s largest wind power producer, has seen curtailment rates for wind and solar power, drop to 7% and 3% in 2018 on supportive government policies. Following this recent announcement it should fall further, as consistency increases across Chinese provinces in their dispatch of renewable energy.
The RPS will see coal challenges for the country’s vast coal-fired power producers, who will see utilisation declines and increased competition from renewable energy companies.
Naturgy supplies 100% renewable energy and works with various stakeholders to ensure a clean energy future for Ireland working with our customers in Ireland, Northern Ireland and the UK with a renewable energy strategy that suits their business needs. In 2012, Naturgy established a dedicated renewables team and currently has a portfolio of over 200 MW of Power Purchase Agreements (PPAs) across a range of technologies in ROI and NI.
In 2013 Naturgy became the first energy supply company in Ireland to achieve a 100% renewable energy rating for all electricity supplied to its customers and still maintains a 100% rating, according to the latest Fuel Mix Disclosure report by the Commission for Regulation of Utilities.
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