Skip to main content
SpringerLink
Log in

Review of Energy Finance and Corresponding Policies in Promoting Renewable Energy Sustainable Development in China

  • Conference paper
  • First Online:
Proceedings of the Thirteenth International Conference on Management Science and Engineering Management (ICMSEM 2019)

Part of the book series: Advances in Intelligent Systems and Computing ((AISC,volume 1002))

Abstract

As global climate warming and the continued use of fossil energy are unsustainable, it has become imperative to accelerate the development of renewable energy. As one of the largest developing countries, this is especially true for future sustainable development in China; therefore, focusing on renewable energy can significantly reduce its dependence on imported fossil fuels. With policy support, China’s renewable energy industries have had rapid development and are now at the international forefront level in some fields. However, the renewable energy industries are facing challenges, particularly in terms of energy finance. Basically, the renewable energy industry in China is facing a contradictory dilemma because of funding shortages and inefficient investment strategies, due in part to government-centered renewable energy investment and financing. In view of this, the development status, modes and renewable energy investment characteristics, financing and the corresponding polices in China are discussed in detail in this paper. As certain constraints are hampering the promotion of sustainable renewable energy development, based on the analysis of the key issues, optimizing countermeasures and feasible proposals are presented. All in all, this study is of significance for energy finance and for the development of corresponding policies for sustainable renewable energy development in China.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 169.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 219.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  1. Abolhosseini, S., Heshmati, A.: The main support mechanisms to finance renewable energy development. Renew. Sustain. Energy Rev. 40, 876–885 (2014)

    Article  Google Scholar 

  2. Cao, X., Kleit, A., Liu, C.: Why invest in wind energy? Career incentives and chinese renewable energy politics. Energy Policy 99, 120–131 (2016)

    Article  Google Scholar 

  3. Cui, H., Wu, R.: Feasibility analysis of biomass power generation in China. Energy Procedia 16, 45–52 (2012)

    Article  Google Scholar 

  4. Development, N., Reform Commission, C.: The 12th Five Year Plan for National Economic and Social Development of the People’s Republic of China 2011–2015 (2011)

    Google Scholar 

  5. Development, N., Reform Commission, C.: Notice on Adjusting Benchmark Tariff of Onshore Wind Power Generation Project (2015)

    Google Scholar 

  6. Development, N., Reform Commission, C.: The 13th Five Year Plan for National Economic and Social Development of the People’s Republic of China 2016–2020 (2016)

    Google Scholar 

  7. Geng, W., Ming, Z., Lilin, P., et al.: China’s new energy development: Status, constraints and reforms. Renew. Sustain. Energy Rev. 53, 885–896 (2016)

    Article  Google Scholar 

  8. He, Y., Pang, Y., Zhang, J., Xia, T., Zhang, T.: Feed-in tariff mechanisms for large-scale wind power in China. Renew. Sustain. Energy Rev. 51, 9–17 (2015)

    Article  Google Scholar 

  9. He, Y., Xu, Y., Pang, Y., Tian, H., Wu, R.: A regulatory policy to promote renewable energy consumption in China: Review and future evolutionary path. Renew. Energy 89, 695–705 (2016)

    Article  Google Scholar 

  10. Hu, Z., Wang, J., Byrne, J., Kurdgelashvili, L.: Review of wind power tariff policies in China. Energy Policy 53, 41–50 (2013)

    Article  Google Scholar 

  11. Kang, J., Yuan, J., Hu, Z., Xu, Y.: Review on wind power development and relevant policies in China during the 11th five-year-plan period. Renew. Sustain. Energy Rev. 16(4), 1907–1915 (2012)

    Article  Google Scholar 

  12. Koseoglu, N.M., van den Bergh, J.C., Lacerda, J.S.: Allocating subsidies to R&D or to market applications of renewable energy? Balance and geographical relevance. Energy Sustain. Dev. 17(5), 536–545 (2013)

    Article  Google Scholar 

  13. Lam, J., Woo, C.K., Kahrl, F., Yu, W.: What moves wind energy development in China? Show me the money!. Appl. Energy 105, 423–429 (2013)

    Article  Google Scholar 

  14. Liu, J., Wang, S., Wei, Q., Yan, S.: Present situation, problems and solutions of China’s biomass power generation industry. Energy Policy 70, 144–151 (2014)

    Article  Google Scholar 

  15. Zeng, M., Song, X., Ma, M.J., Zhu, X.L.: New energy bases and sustainable development in China: A review. Renew. Sustain. Energy Rev. 20, 169–185 (2013)

    Article  Google Scholar 

  16. Zeng, M., Liu, X.M., Li, Y.L., Peng, L.L.: Review of renewable energy investment and financing in China: Status, mode, issues and countermeasures. Renew. Sustain. Energy Rev. 31, 23–37 (2014)

    Article  Google Scholar 

  17. Standing Committee of the National People’s Congress, C.: Standing Committee of the National People’s Congress. Renewable Energy Law of the People’s Republic of China (2006)

    Google Scholar 

  18. Standing Committee of the National People’s Congress, C.: Standing Committee of the National People’s Congress. Energy Conservation Law of the People’s Republic of China (2007)

    Google Scholar 

  19. Standing Committee of the National People’s Congress, C.: Atmospheric Pollution Prevention and Control Law of the People’s Republic of China (2015)

    Google Scholar 

  20. National Renewable Energy Center, C.: The National Renewable Energy Development Report (2015)

    Google Scholar 

  21. Ng, T.H., Tao, J.Y.: Bond financing for renewable energy in Asia. Energy Policy 95, 509–517 (2016)

    Article  Google Scholar 

  22. Ouyang, X., Lin, B.: Levelized cost of electricity (lCOE) of renewable energies and required subsidies in China. Energy Policy 70, 64–73 (2014)

    Article  Google Scholar 

  23. Zhang, P.D., Yang, Y.L., et al.: Opportunities and challenges for renewable energy policy in China. Renew. Sustain. Energy Rev. 13(2), 439–449 (2009)

    Article  Google Scholar 

  24. Pinkse, J., Van den Buuse, D.: The development and commercialization of solar PV technology in the oil industry. Energy Policy 40, 11–20 (2012)

    Article  Google Scholar 

  25. Shen, J., Luo, C.: Overall review of renewable energy subsidy policies in China-contradictions of intentions and effects. Renew. Sustain. Energy Rev. 41, 1478–1488 (2015)

    Article  Google Scholar 

  26. Song, A., Lu, L., Liu, Z., Wong, M.: A study of incentive policies for building-integrated photovoltaic technology in Hong Kong. Sustainability 8(8), 769 (2016)

    Article  Google Scholar 

  27. The National People’s Congress, C.: Renewable Energy Law of the People’s Republic of China (2009)

    Google Scholar 

  28. Wang, N., Chang, Y.C.: The development of policy instruments in supporting low-carbon governance in China. Renew. Sustain. Energy Rev. 35, 126–135 (2014)

    Article  Google Scholar 

  29. Wang, Z., Qin, H., Lewis, J.I.: China’s wind power industry: Policy support, technological achievements, and emerging challenges. Energy Policy 51, 80–88 (2012)

    Article  Google Scholar 

  30. Yang, X.J., Hu, H., Tan, T., Li, J.: China’s renewable energy goals by 2050. Environ. Dev. 20, 83–90 (2016)

    Article  Google Scholar 

  31. Zeng, M., Li, C., Zhou, L.: Progress and prospective on the police system of renewable energy in China. Renew. Sustain. Energy Rev. 20, 36–44 (2013)

    Article  Google Scholar 

  32. Zhang, H., Li, L., Zhou, D., Zhou, P.: Political connections, government subsidies and firm financial performance: Evidence from renewable energy manufacturing in China. Renew. Energy 63, 330–336 (2014)

    Article  Google Scholar 

  33. Zhang, S., He, Y.: Analysis on the development and policy of solar pv power in China. Renew. Sustain. Energy Rev. 21, 393–401 (2013)

    Article  Google Scholar 

  34. Zhang, X., Shen, L., Chan, S.Y.: The diffusion of solar energy use in HK: What are the barriers? Energy Policy 41, 241–249 (2012)

    Article  Google Scholar 

  35. Zhao, Z.Y., Zuo, J., Fan, L.L., Zillante, G.: Impacts of renewable energy regulations on the structure of power generation in China-a critical analysis. Renew. Energy 36(1), 24–30 (2011)

    Article  Google Scholar 

  36. Zhao, Z.Y., Chen, Y.L., Chang, R.D.: How to stimulate renewable energy power generation effectively?—China’s incentive approaches and lessons. Renew. Energy 92, 147–156 (2016)

    Article  Google Scholar 

Download references

Acknowledgements

The work was supported by the Central Universities Project under Grant (No. 2016NZYQN13). The authors are indebted to the editors and reviewers for their valuable comments and suggestions.

Author information

Authors and Affiliations

  1. School of Management, Southwest University for Nationalities, Chengdu, 610041, People’s Republic of China

    Yanfei Deng

  2. School of Economics, Xihua Univeristy, Chengdu, 610039, People’s Republic of China

    Lei Xu

  3. China Power Construction Corporation, Sichuan Electric Power Design & Consulting Limited Company, Chengdu, 610016, People’s Republic of China

    Yuan Yuan

  4. Soil Environment Technology Learning Lab, The Ohio State University, Columbus, OH, 43210, USA

    Karen Mancl

Authors
  1. Yanfei Deng
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Lei Xu
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Yuan Yuan
    View author publications

    You can also search for this author in PubMed Google Scholar

  4. Karen Mancl
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Lei Xu .

Editor information

Editors and Affiliations

  1. Business School, Sichuan University, Chengdu, China

    Jiuping Xu

  2. Department of Mathematics and Statistics, Brock University on McMaster, Hamilton, ON, Canada

    Syed Ejaz Ahmed

  3. Department of Management, Monash University, Melbourne, VIC, Australia

    Fang Lee Cooke

  4. Academy of Sciences of Moldova, Chisinau, Moldova

    Gheorghe Duca

Rights and permissions

Reprints and permissions

Copyright information

© 2020 Springer Nature Switzerland AG

About this paper

Check for updates. Verify currency and authenticity via CrossMark

Cite this paper

Deng, Y., Xu, L., Yuan, Y., Mancl, K. (2020). Review of Energy Finance and Corresponding Policies in Promoting Renewable Energy Sustainable Development in China. In: Xu, J., Ahmed, S., Cooke, F., Duca, G. (eds) Proceedings of the Thirteenth International Conference on Management Science and Engineering Management. ICMSEM 2019. Advances in Intelligent Systems and Computing, vol 1002. Springer, Cham. https://doi.org/10.1007/978-3-030-21255-1_22

Download citation

Publish with us

Policies and ethics

Search

Navigation