Can China's renewable energy industry policy support the low-carbon energy transition effectively?

Abstract

To cope with global climate change and energy security, the realization of the low-carbon energy transition has become an inevitable choice for international carbon emission reduction requirements and energy structure adjustment. Vigorously developing renewable energy has become an essential part of energy policies in many countries. Under the incentive and guidance of renewable energy industry policy, China's renewable energy has developed rapidly, and energy structure has been optimized. However, many problems have been exposed. Can China's renewable energy industry policy effectively support low-carbon energy transition? This paper uses the method of theoretical analysis, combining literature analysis and data analysis. Based on the analysis of renewable energy policies in countries with relatively mature energy transitions, it analyzes the status quo, implementation effect, and problems of renewable energy policy in China and proposes policy suggestions. According to the research, the existing problems are as follows: (1) diminishing marginal effect of policies, (2) policy adjustment is not timely and lacks details and operability, (3) coordination conflicts between the old and new policies, (4) unreasonable policy supply structure, and (5) the negative impact of subsidy policy is increasing. Therefore, this paper argues that China's renewable energy industry policy cannot effectively support the low-carbon energy transition.

Keywords: China; Low-carbon energy transition; Renewable energy; Renewable energy industry policy.