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China's renewable energy market is the largest and fastest-growing in the world, with renewables accounting for over 36% of the country's total electricity generation in 2022. This is expected to reach over 50% by 2030, driven by strong government support, declining costs of renewable energy technologies, and increasing consumer demand for clean energy.
The Chinese government is a major driver of renewable energy development, with a target of achieving 1,200 gigawatts of renewable energy capacity by 2030. The government actively supports the sector through various procurement initiatives, including:
The Renewable Energy Law, which sets targets for renewable energy capacity and consumption
The Green Power Trading Pilot Program, which encourages the trading of renewable energy certificates
The Top Runner Program, which sets energy efficiency standards for appliances and equipment
The Chinese government procures a wide range of renewable energy products and services, including:
Solar photovoltaic (PV) panels: China is the world's largest manufacturer and installer of solar PV panels, with over 300 gigawatts of installed capacity.
Wind turbines: China is also the world's largest manufacturer and installer of wind turbines, with over 340 gigawatts of installed capacity.
Hydropower: Hydropower is the largest renewable energy source in China, with over 360 gigawatts of installed capacity.
Biomass energy: Biomass energy is gaining traction in China, with a growing focus on sustainable biofuel production.
The top authorities overseeing renewable energy procurement in China are:
The National Energy Administration (NEA): The NEA is the central government agency responsible for energy policy and planning, including renewable energy development.
The Ministry of Commerce (MOFCOM): MOFCOM oversees trade policy and promotes the export of renewable energy products and services.
The China Renewable Energy Association (CREA): CREA is a national industry association that advocates for renewable energy policies and supports the growth of the sector.
Major companies that have secured significant renewable energy procurement contracts in China include:
State Grid Corporation of China: State Grid is the world's largest electricity utility and a major investor in renewable energy projects.
China Huaneng Group: Huaneng is one of the largest power producers in China and has a growing portfolio of renewable energy assets.
China Three Gorges Corporation: Three Gorges is the world's largest hydropower operator and is also investing in solar and wind energy projects.
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