Energy Finance in Promoting Renewable Energy Sustainable Development in China: The Channels and Means of Financing
As global climate warming and the continued use of fossil energy are unsustainable, it has become imperative to accelerate the development of renewable energy. As one of the largest developing countries, this is especially true for future sustainable development in China; therefore, focusing on renewable energy can significantly reduce its dependence on imported fossil fuels. With policy support, China’s renewable energy industries have had rapid development and are now at the international forefront level in some fields. However, the renewable energy industries are facing challenges, particularly in terms of energy finance. Basically, the renewable energy industry in China is facing a contradictory dilemma because of funding shortages and inefficient investment strategies, due in part to government-centered renewable energy investment and financing. In view of this, the renewable energy financing and the corresponding polices in China are discussed in detail in this paper. Issues of energy finance are also analyzed.
KeywordsEnergy finance Renewable energy Financing channels Financing means Sustainable development
This research is supported by the Program of National Natural Science Foundation of China under Grant (No. 71503216) and (No. 71401136), the Social Science Planning Project of Sichuan Province under Grant (No. SC15C051), the Central Universities Project under Grant (No. 2016NZYQN13), the Technology Finance and Entrepreneurship Financial Research Center Project under Grant (No. JR201507), and the System Science and Enterprise Development Research Center Project under Grant (No. xq15c02).
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