Four Things You Need to Know About China’s Renewable Portfolio Standard
Clean and renewable energy sit at the heart of China's energy transition to improve environmental sustainability. But for years, renewable energy output has been constrained and grid companies have not been forced to purchase maximum renewable generation volumes. There are many factors behind this high curtailment, but the lack of a mandatory, flexible and well-enforced market mechanism is key. China has seen renewable portfolio standard (RPS) as one such way to effectively boost penetration of renewable electricity.
This Wood Mackenzie report provides detailed analysis of the four major takeaways important to understanding China's RPS.