Chinese National Energy Administration (NEA) has announced recently the new ten-year energy investment strategy plan, which involves investments totalling about 5 trillion Yuan (about USD 737 billion). The new plan, covering the period between 2011-2020, puts forward some major policy measures for further development of various energy sources, including nuclear, wind, solar, biomass, geothermal, unconventional natural gas and other new energy technologies. Apart from clean energy, the new strategy also involves further development of clean coal technologies. Additionally, the country is planning to adopt smart grid technology on a large scale, as well as distributed energy generation and electric vehicle technologies.
Currently, China relies heavily on coal burning power plants for producing electricity, although it is also one of the largest hydropower producers in the world. The country's growing demand for energy, caused by the fast growing economy, dictates an increase in power generation, but also demands the introduction of clean energy technologies in order to reduce the high levels of pollution.
The new energy strategy plan will greatly decrease carbon emissions, and have a major economic impact on China – about 1.5 trillion Yuan is expected to be achieved annually in terms of added value, while the projects derived from the strategy will create some 15 million jobs in the country. Needless to say, such large scale developments will also bring plenty of business to all renewable energy industry companies, ranging from technology manufacturers, to smart grid service providers.
Most importantly, the plan puts major focus on the expansion of renewable energy technologies such as wind, solar, biomass and geothermal energy. Major projects are planned to create energy bases, as well as transmission capabilities to accomodate such a surge in new power generating capacity (such as the recently completed Xianjiaba/Shanghai transmission line).
According to NEA's estimates, the total non-fossil primary energy consumption may rise to 11% nearing the year 2020.
[source: People's Daily Online]
