(MENAFN- Gulf Times) China, the world's biggest carbon emitter, is increasing wind and solar power installations as the country strives to cut reliance on coal.
The nation will probably bring 20 gigawatts of wind power and 10 gigawatts of solar into operation each year, said Zhou Dadi, vice chairman of the State Energy Expert Advisory Committee, without giving a timeframe. Wind installations almost doubled to 110 gigawatts in the three years to 2014, while solar surged 10-fold to about 33 gigawatts, Bloomberg data show.
China, the largest energy and metals consumer, is seeking to address the environmental damage caused by its rapid economic expansion. Xi Jinping's first five-year plan since becoming president in March 2013 will intensify efforts to rein in pollution and a carbon-trading programme may start next year or the year after, according to Citigroup in a report on Friday.
"It's in serious discussion," said Zhou, referring to the wind and solar targets to be achieved by 2020, adding they haven't been finally decided. Zhou is advising the government on draft energy plans over the next five years and was speaking in an interview in New York on Thursday.
Environmental initiatives will probably have some of the most aggressive targets in the plan which is expected to be delivered at the time of the Communist Party Plenum in October, according to Citigroup analysts. Costs for emissions-heavy industries including coal power plants, metals refineries, oil and petrochemical plants will increase, they wrote.
The nation vows to get 20% of its energy from renewables and nuclear power by 2030, almost double the current share. The country also wants to increase use of natural gas to curb pollution caused by burning coal and needs to persuade users especially industrial customers to buy the more expensive energy, Zhou said.
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