Major Breakthrough in Solar Policy: The National Energy Law Drives the Comprehensive Development of Renewable Energy
2024.11.12
On November 8, 2024, the 12th session of the Standing Committee of the 14th National People's Congress passed the Energy Law of the People's Republic of China, the country’s first comprehensive energy law. The law emphasizes the accelerated development and utilization of wind and solar energy, supports the construction of wind and solar power bases, and advocates for a balanced approach between centralized and distributed energy generation. It also promotes the development of offshore wind energy and solar thermal power, marking a significant step in China’s transition toward green energy and setting a solid foundation for the future restructuring of the energy sector【Source: National People's Congress of China】.
In addition, on November 11, 2024, the National Energy Administration issued a notice to further standardize market transactions in the power sector. The notice stipulates that power generation companies must not use their "integrated sales" advantages to lower purchase costs and monopolize market share. It also mandates that all power sales entities, including private companies and large electricity consumers, be treated equally without discrimination. This measure aims to ensure fair competition and transparency within the power market, supporting a more equitable and open market environment【Source: National Energy Administration】.
With the passing of the Energy Law and the new market regulations, China is intensifying its focus on renewable energy development, especially in the solar and wind sectors, which will significantly contribute to the country's green energy transition.