Chinese renewable energy use to be over half by 2050
Beijing has set a goal for Chinese renewable energy to increase to 20 per cent of all energy use by 2030 and 50 per cent by 2050, according to a state planner on Tuesday.
In a policy document released by the National Development and Reform Commission (NDRC), carbon dioxide emissions in China are expected to peak by 2030 and total energy demand will be capped at 6 billion tons of standard coal equivalent by 2030. That is up from 4.4 billion tons targeted for 2017.
While increasing the use of renewable energy and shifting away from coal, China is also looking to increase oil and underground natural gas storage facilities.
Earlier this year, the Chinese energy agency announced it will spend $361 billion on renewable power generation by 2020.
The investment is expected to create over 13 million jobs in the sector.
According to the National Energy Administration, installed renewable power capacity including wind, hydro, solar and nuclear power will make up about half of new electricity generation by 2020.
