Friday, March 4, 2016

China: Renewable Energy Certificates Market is Slated

China aims to boost renewable energy with 'green certificates' (Reuters)

China plans to set up a market for renewable energy certificates to try to increase the use of cleaner energy as the world's largest greenhouse gas producer tries to reduce its reliance on coal.

Power suppliers will be able to trade "green certificates" that represent the proportion of non-hydro renewable energy that they generate, the country's National Energy Administration said on Thursday in a statement on its website.

China aims to increase the use of non-fossil fuel in the primary energy mix to 15 percent by 2020 from the current 12 percent. It plans to boost the share of renewables such as wind, solar and geothermal power, with the goal of cutting emissions of major pollutants in the power sector 60 percent by 2020. China already has the world's largest capacity of photovoltaic solar power.