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Accelerating the Development of Renewable Energy in China to Support the Global Target of Tripling Installed Capacity
Accelerating the Development of Renewable Energy in China to Support the Global Target of Tripling Installed Capacity
English, Chinese
NOV 2024
Policy Brief
Energy Transition Power
Summary:
This policy brief examines China's progress toward the COP28 "global tripling target" for renewable energy capacity by 2030 and assesses provincial-level potential for further ambition. It reviews global renewable deployment trends, the gap between NDC targets and the tripling target, and China's policy framework supporting renewable expansion (Renewable Energy Law, consumption responsibility quotas, green certificate trading, power market reform). The analysis presents provincial-level renewable capacity data and targets, identifies provinces that have significantly outperformed or underperformed relative to goals, and reviews modeling projections for 2030 capacity. It finds that China achieved its 2030 wind and solar target six years ahead of schedule but that provincial targets vary widely, with significant upside potential in power-demanding coastal provinces. It recommends accelerated power system flexibility improvements, market mechanism enhancements, and coordinated provincial target-setting.
Suggested citation:
Li, Xindi. (2024). Accelerating the Development of Renewable Energy in China to Support the Global Target of Tripling Installed Capacity (Policy Brief). Beijing: Institute for Global Decarbonization Progress (iGDP). November 2024.
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