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(Bloomberg) — China has laid out broad new rules that mandate increased use of renewables as it continues to shift the focus of its energy transition from building new generation to ensuring it gets consumed.
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Starting Aug. 1, the central government will set binding targets for the percentage of electricity and non-electric energy that must come from renewable sources, according to an order published Monday by the National Development and Reform Commission and other agencies.
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The targets are another sign that Beijing is shifting the emphasis of its energy transition away from the massive increase in renewable power plants that’s marked the past few years and toward ensuring that clean electricity gets utilized more. Curtailment of wind and solar power is on the rise, and new installations have shrunk as new pricing rules slashed their revenue.
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The order published on Monday leaves many details, such as specific industries and targets, to be sorted out in the future.
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Companies and provinces will face quarterly monitoring and annual evaluations of their clean energy consumption, and laggards will be forced to purchase green electricity certificates to comply, according to the order. That could boost demand for the credits generated by solar and wind farms, potentially generating more revenue for them.
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The program will also include targets for non-electric energy, such as heating and green fuels. That could help boost demand for green hydrogen, a sector that China has identified as critical in its five-year plan to 2030.
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