Renewable energy could make up two-fifths of China’s power mix by 2030 if its policies push in the right direction.
That’s according to a report released yesterday by the International Renewable Energy Agency (IRENA), called ‘Renewable Energy Prospects: China’, put together with the China National Renewable Energy Centre.
It found the nation could expand renewables in its electricity mix from 20% at the moment to 40% by 2030, which would make it the world’s largest renewable energy user.
As policy and investment patterns stand, the share of renewables in China’s energy mix is projected to only reach 17% by 2030 compared to 13% in 2010.
If the country boosts investment by $145 billion (£92bn), the report estimates China’s modern renewables – discounting traditional biomass (e.g. wood fires) – could jump up to 26%.
Dolf Gielen, Director of IRENA’s Innovation and Technology Center said the report showed China “can achieve the energy revolution it’s aiming for – and that it can do so affordably”.