CHINA INNOVATIVE DEVELOPMENT OF RENEWABLE ENERGY
Abstract
The main features of innovative development of renewable energy in China after the adoption of the Law on Renewable Energy in China in 2005 have been analyzed in the article. The importance of a comprehensive approach to state stimulating of innovations, which included not only certain tax and credit privileges for businesses in this field, but also creation of special state fund to support the development of renewable energy has been demonstrated. It has been determined that state support for scientific and technological research and its implementation made China one of the world leaders in renewable energy, which by volume of solar energy generation overtook the US in 2015, and Europe in 2018. The growth rate of China’s renewable energy generation over the past 10 years has been analyzed. China’s position has been shown compared to other countries’. It has been reasonably concluded that thoughtful state policy and public investment in development of energy innovations made by Chinese government in the initial stages attracted much larger private investment in renewable energy sector, which raised it to new level of quality. It has been established that in 15 years, China has evolved from consumer of innovative technologies into recognized global innovation leader, entering the top five in patent applications for renewable energy inventories (2,659 patents in the last 10 years). China plans further innovative developing of renewable energy, to enhance its share to 73% by 2050. The forms of support for innovation and renewable energy research, as well as the scope of China’s patent applications in renewable energy have been demonstrated in this article. According to these indicators, China has ranked 3rd place in the world after Japan and the USA in the last 5 years. China’s prediction approaches to development of renewable energy have been demonstrated for the new five-year country development plan (2021-2025), and for the period up to 2050, according to which solar and wind energy should provide 58% of electricity production in 2035 and 73 % in 2050.
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