CREO 2018 released at the International Energy Transition Forum in Suzhou

China Renewable Energy Outlook 2018 was released on the International Forum on Energy Transitions, held
in Suzhou, on October 18th. Key messages of CREO 2018 are:

  • An ambitious, Paris‐compatible Energy system is cost‐efficient, secure, and above all realizable
  • It is possible for China to achieve the Below 2 Degrees scenario provided the China energy transition accelerates
  • This acceleration requires an increase in wind, solar, and hydro installations. While the projected rate of wind and solar installations needed from 2020‐2030 appears large, it is attainable given past growth rates for these power sources
  • According to CREO, stopping new coal is vital to achieving the Below 2 Degrees scenario. This requires not only central government policy on coal, but also power market reforms to promote trading of renewable energy between provinces
  • Efficiency and electrification have to play a key role in the Chinese Energy Transition. CREO contains projections for electrification of steel and other industries as well as transport

Mr. Wang Zhongying, Acting Deputy Director General of the Energy Research Institute of National Development and Reform Commission (ERI of NDRC), previewed several CREO findings, in particular under the Below 2 Degree scenario. Clean, low‐carbon, secure, efficient and cost effective consumption are the five goals for renewable energy which differ between the Stated Policies scenario and the Below 2 Degrees scenario. “In order to achieve the Below 2 Degrees scenario, the government still has to deepen the revolution of current renewable energy policies, accelerate the revolution of state‐owned energy industries, and promote solar PV and wind power development under guidance of the 14th Five‐Year Plan.”