Chinese renewables set for bumper year
Commitment to net-zero by 2060, combined with interim targets, has bolstered confidence within the wind and solar sectors
A flurry of climate change and clean energy policy announcements in China towards the end of 2020 has set up 2021 to be a banner year for Chinese renewables—just as wind and solar power reach a tipping point in their price competition with fossil fuels. The sense among energy industry watchers is that renewables growth in China has never been as certain than at present—particularly after President Xi Jinping’s announcement last August that the country will target carbon neutrality by 2060. While the direction towards low carbon had been clear before Xi’s surprise move, the announcement of net-zero by 2060 has accelerated the transition and amplified the role of renewables. There have been co
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