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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