Sourcing Renewable Energy in China

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Global corporations are increasingly recognising the need to take climate action and invest in more sustainable energy solutions. With the commercial and industrial sector currently accounting for around half of end-of-use electricity worldwide, sourcing renewable energy (RE) is a crucial step in reducing global emissions. As one of the leaders in RE expansion, China is becoming a popular country in which to look at sourcing renewables. However, with the regulatory environment rapidly changing and a multitude of RE opportunities becoming available, the landscape can be challenging to navigate for corporations looking to make climate-friendly energy changes.

In this webinar, renewable energy expert, Yuhuan Shen, discusses the developing opportunities for corporate renewable procurement in China, the key trends shaping the country's renewable market and how South Pole can support in building an appropriate renewable energy strategy for your company and also supply chain.

Key takeaways

1. Corporate sustainability commitments are on the rise, with 75% of RE100 companies committing to reach 100% renewable by 2030. In 2021, China ranked second largest by electricity consumption by RE100 members, with the country becoming increasingly popular for corporate RE procurement worldwide.
2. Responding to China's aim to peak its CO2 emissions before 2030 and achieve carbon neutrality before 2060, the country's regulatory framework is evolving rapidly - opening up more favorable renewable energy solutions for corporate sourcing.
3. While the majority of companies currently source renewable energy through EAC's (Energy Attribute Certificates), such as I-RECs or GECs, corporates are keen to source PPAs (Power Purchase Agreements) and other solutions as part of their RE strategy.
4. Increased interest in PPAs is driven by factors such as emission reduction targets and stakeholder pressure. As China's energy market is in the midst of deregulation, PPAs are becoming increasingly available for corporate sourcing.
5. China's national renewable energy trading pilot programme demonstrates China's aim to drive more RE consumption in a market-oriented manner, with the possibility of virtual PPA opportunities developing in the mid-term.
6. Embarking on your corporate RE journey with all options and challenges in mind enables your company to harness opportunities that will unlock cost-savings potential and develop a competitive advantage in today's saturated market.
7. Finally, integrating renewable solutions that are available to your supply chain is key in building an effective climate positive strategy.

Resources

Video

Take a look at our webinar recording below.

Speak with one of our South Pole experts today for support in building your renewable energy roadmap.