(Yicai Global) Oct. 18 -- China General Institute of Hydropower and Water Resources Planning and Design recently released a renewable energy industry research report, which projects that China's future development ideas of renewable energy will change from "large-scale" to "improved quality and efficiency."
"By 2020, China's hydropower installed capacity is expected to exceed 380 million kilowatts, while wind power installed capacity is projected to surpass 230 million kilowatts, photovoltaic power installed capacity is anticipated to rise beyond 160 million kilowatts, biomass power installed capacity is expected to break through 15 million kilowatts, and non-fossil energy consumption will make up more than 15 percent of primary energy consumption," the report concluded, as Economic Daily reported.
China's renewable energy will maintain a mid- to high-speed growth trend with a steady rise in the middle and latter period of from 2016 to 2020, the report predicted.
During this time, hydropower projects under construction will concentrate in the Jinsha River, Dadu River, Yalong River, the upper reaches of the Yellow River and the Hongshui River. Offshore wind power is expected to undergo explosive development. More than 10 million kilowatts of capacity is predicted to be developed and built. Photovoltaic (PV) power generation costs are anticipated to significantly decline, and PV user-side grid parity is projected to be achieved by 2020. Distributed PV power generation will become the main form of PV construction in east-central China, per the report.