China legislators seen mulling renewables fund
A draft amendment to China's Renewable Energy Law has been submitted to the National People's Congress and if passed, will set up a new fund financed in part by surcharges levied on renewable energy prices, the report said.
At current rates, income from the surcharges will reach 4.5 billion yuan (US$658.8 million) this year, Xinhua said.
The fund will be used to support scientific and technological research and will also finance rural renewable energy projects and independent power systems in remote or island regions.
China plans to raise renewable energy to 15 percent of total energy consumption by 2020.
Related News
Ontario to Rely on Battery Storage to Meet Rising Energy Demand
TORONTO - Ontario’s electricity grid is facing increasing demand, prompting the province to invest heavily in battery energy storage systems (BESS) as a key solution. The Ontario Independent Electricity System Operator (IESO) has highlighted that these storage technologies will be crucial for managing peak demand in the coming years.
Ontario's energy demands have been on the rise, driven by factors such as population growth, electric vehicle manufacturing, data center expansions, and heavy industrial activity. The IESO's latest assessment, covering the period from April 2025 to September 2026, indicates that peak demand will increase by approximately 1,000MW between the summer of…
