China obtains grant to scale-up distributed renewable energy

first_img Low carbon, solar future could increase jobs in the future – SAPVIA Finance and Policy This project will be implemented in parallel with the ChinaRenewable Energy and Battery Storage Project under preparation for World Bankfinancing. Featured image: Stock “This GEF project will help China harness the potential of its clean energy transition. The global community will also benefit from the avoided greenhouse emissions as a result of the project,” said Song Yanqin, World Bank senior energy specialist and task team leader of the project. However, China’s capacity is used inefficiently and oftenfaces curtailment as grid capacity is limited. China has set targets for increasing the share of non-fossilsources in total energy consumption to 15% by 2020, 20% by 2030 and more than50% by 2050. Both together are expected to make major contributions toemission reductions but are still considered technically risky, lack developedbusiness models and require accompanying regulatory changes to deliver theirfull impact. In this context distributed renewable energy has great potential to further improve the country’s energy mix. Distributed renewable energy technologies allow renewableenergy to be used at source for consumption or grid stabilisation, therebyreducing the need to transport renewable energy across vast distances betweenthe point of production and the centers of demand. The GEF grant will provide support for piloting andregulatory technical assistance to address these challenges. The GEFDistributed Renewable Energy Scale-Up Projectwill supportselected studies in the area of planning, grid access, pricing, market design,and business models to inform the development of policies and regulations atthe national and provincial levels and finance pilots in specific locationssuch as a city, a district or an industrial park to demonstrate the financial,institutional and business-model viability for scale-up. BRICS AFD and Eskom commit to a competitive electricity sector Generation Subgrants will be awarded to government agencies, industry associations,companies, or other eligible actors. RELATED ARTICLESMORE FROM AUTHOR The World Bank’s boardof executive directors has approved a grant worth $7.3 million from the GlobalEnvironment Facility (GEF) to promote the scale-up of distributed renewableenergy in China. TAGSChinadistributed energyRenewablesWorld Bank Previous articlePower for All: “Energy sector should promote renewables”Next articleEU to commission first gigafactory for battery storage systems Babalwa BunganeBabalwa Bungane is the content producer for ESI Africa – Clarion Events Africa. Babalwa has been writing for the publication for over five years. She also contributes to sister publications; Smart Energy International and Power Engineering International. Babalwa is a social media enthusiast. The growth of renewable energy has already contributed to the growth in the share of non-fossil fuel energy from 8.6% in 2010 to 14% in 2018. China now has the largest hydropower, wind, solar PV, and geothermal capacity of any country. Clean energy transition The potential for distributed renewable energy is closelyassociated with the growth in battery storage capacity. UNDP China, CCIEE launch report to facilitate low-carbon developmentlast_img read more