China is planning to raise its power generation from renewable energy to around 11 percent in 2021 from 9.7 percent in 2020, according to the National Energy Administration (NEA). It further revealed that solar and wind power generation in China will need to increase each year over the next five years and to reach around 16.5 percent of total power use by 2025.
According to the World Platinum Investment Council (WPIC), hydrogen will account for 10 percent of China’s total energy mix by 2050. In a newsletter, the council said that renewable energy investments in China will increase in the coming years. China is already targeting to reach about 15 percent of renewable hydrogen energy generation by 2030.
The council said, “China is not alone in seeing growing momentum behind hydrogen technologies. The global platinum demand impact of announced green hydrogen policies is clearly sizeable over the longer term; current European Union and China green hydrogen generation capacity targets alone would require, cumulatively, between 300 000 oz and 600 000 oz of platinum by 2030.”
According to a white paper called ‘Energy in China’s New Era’ which was published last year, preliminary figures show that in 2019, coal consumption accounted for 57.7 percent of China’s total energy consumption, which is a decrease of 10.8 percent from 2012. On the other hand, the consumption of clean energy which includes natural gas, hydropower, nuclear power and wind power, accounted for 23.4 percent of total energy consumption, an increase of 8.9 percent since 2012.