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China has passed a law requiring power companies to buy-up all the electricity generated from renewable sources. My first thought was, “Damn. Wish I had bought stock.”

Second thought is that this is quite a response to the supposed controversy of the recent Copenhagen climate talks. The new law–

empowers the State Council’s energy department, the electricity regulatory agency and its finance departments to determine the amount of renewable energy available in the country’s overall power generating capacity.Power companies will be obliged to take up all of that capacity, and those refusing to do so will be fined an amount up to double that of the economic loss of the renewable energy company,

I would bet now that this story–sadly–will not get much notice in the US. Even less likely–double sad–is that the US will not be able to make a similar gesture to confirm their commitment to emissions controls.

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7 Comments

  1. Third thought is that maybe it’s not too late to invest in renewable energy.

  2. HAHA~
    I think it is fairly a good policy for those companies who are leading the world’s technology and making the most pollutions. This law is like a modulable tax for those companies. It reminds me a concept that we once learnt,’tradable permission?'(Is that so? I forgot it.) That is one could chooose to continue polluting, or as they called,’promoting productivity’, but they must pay for the loss of not caring the renewable energy. In this competitive world, this policy made this stage of protecting the environment a fair game.

  3. Good for us, and great news for those green energy companies. However, I wonder that how would the state agency trade with the private energy companies, cooperation and managing together or the government will just buy up all the energy they produce and then sell it?
    I believe it a vital gesture to show that at least China is willing to take action to compact the climate change(actually we have already started to do so long before the 2008 olympics).
    And totally agree with Philip, other countries would not pass a law to confirm their commitment.
    What China is doing right now is to secure the need for our future generation and use the money wisely to enhance the living standard current generation(economic development). If the government continue to invest the money on the right place(like buying up renewable energy), certainly our future and our children’s future would be better.
    We are running out of time to wait, but we are not running out of time to take actions.

  4. Renewable energy including wind power,solar power,hydro power,biotic power,underground heat power etc. all those are clean,non-fossil fuels.They all need large amount of infarstructure and ROME wasn’t buolt in one day.Furthermore, 2/3 of our energy are suppoerted by coal, whcih indicates that renewable energy seems not so “economic” for energy buyers right now,and the current situation is that even traditional coal mining industries are facing soaring cost, time for higher energy fee is coming,I’d better shut down my 24-hour-running-PC right now and go get some efficient lightbulb ASAP……

  5. Fairly speaking , ,i dont see china will really implement the law,,,china ,,always say something and dont do that…\

    however, it is clearly that the government of china has realised the negative exnernality of air pollution..

    There is something wrong with the economic system of china ,,,nobody would like to protect the enviroment from their deep hearts…

  6. The truth is, it is hard for developing countries to protect environment…

  7. It is obvious that government should promote renewable energy widely in the society.It is a reaaaally great profit of the long-run. Governments of different countries all over the world must insist on pursuing sustainable development.
    Although the result of Copenhagen climate summit is a little disappointed, it had shown the importance of environment. The situation is very serious and every country should take their responsibility, especially US(from my point of view).


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