RE100: China’s fast track to a renewable future
- 13 April 2015
China is the world's biggest investor in the renewable energy market, reaching US$89.5 billion in 2014 alone.
And this low carbon leadership is sending a clear signal to Chinese businesses. They see going renewable as a smart business decision that can provide energy security, help manage fluctuating energy costs, improve reputation and deliver carbon emission reduction goals.
But until recently, the focus of renewable investment in China had been on large-scale utility projects – the supply side of the energy equation. Today though, the central government increasingly sees the opportunity for stimulating businesses – the biggest end users of energy – and has introduced a number of incentive schemes for renewable energy investment that are already attracting interest.
This new report, RE100: China’s fast track to a renewable future, identifies the areas of greatest growth in China's clean energy markets, and explores key renewables opportunities for businesses.
Solar PV emerges as one of the most popular, with rooftop solar projects currently offering the industrial and commercial sectors a payback period of seven to nine years and an 8% rate of return according to China Renewable Energy Industries Association (CREIA) data.
[Read the Chinese version here]
The report is part of RE100, a global initiative of The Climate Group that recruits and supports major companies to use 100% renewable power across their operations, and is further boosted by a partnership with CREIA, which aims to help companies in China adopt renewable energy.
RE100 was launched at Climate Week NYC in September 2014. Sixteen companies have now joined the campaign and made a public commitment to going 100% renewable. RE100 brings together BT Group, Commerzbank, Elion Resources Group, Formula E, H&M, IKEA, KPN, Mars, Nestlé, Philips, Reed Elsevier Group, J. Sara Sarasin Bank, SAP, SGS, Swiss Re and YOOX Group.
From May 2015, RE100 is set to deliver a series of capacity-building workshops in China to help companies overcome the most common technical, financial and policy barriers when making the shift to clean energy.
For more information visit theRE100.org and follow #RE100 on social media.