China's development plan for renewable energy in 2016-2020, lately released by the National Development and Reform Commission, clearly stated that China would annually utilize renewable energy equivalent to 730 million tonnes of standard coal by 2020, including commercial use of renewable energy equivalent to 580 million tonnes of standard coal, which is estimated to boost investment of 2.5 trillion yuan in renewable energy industry in during the period.
According to the plan, renewable energy installed capacity in China would hit 680 million kilowatts by 2020 with generation of 1.9 trillion kilowatt-hours of electricity, contributing 27 percent to total power output in China.
Renewable energy would substitute fossil energy consumption equivalent to 150 million tonnes of standard coal for heating and household fuels.
The plan also puts up to enormously increase the proportion of non-hydro renewable energy power generation by power producers by 2020.
It is estimated that China would add 60 million kilowatts of hydropower installed capacity, trigging investment of 500 billion yuan, and 80 million kilowatts of wind power with investment of 700 billion yuan.
Investment in solar power generation is expected to hit 1 trillion yuan.
The development of renewable energy would also motivate development of related industries, and is expected to create more than 3 million new job opportunities in 2016-2020.
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