The Development and Innovation of China’s New Energy Industry in the Post-Crisis Era

Abstract

In the post-crisis era, the renewable energy industry is emerging as the focus of the new round of global green technological innovation. As the largest developing country and the second-largest energy producer and consumer in the world, China is facing greater pressure on energy-saving and emission reduction. Developing renewable energy[1] is an inevitable choice for China’s sustainable economic growth. In recent years, supported by market demands and polices, China's renewable energy industry has got amazing growth. However, due to various reasons, the development of China's renewable energy industry faces a number of constraints: the low level of core technology, imperfect market and disorderly competition. Therefore, the Government needs to promote technological innovation, to accelerate the market cultivation and industrial regulation so as to create favorable conditions for the healthy development of renewable energy industry.This paper examines the position of the new energy industry in China’s economic development; analyzes the major contradictions that confront China’s renewable energy industry; and outline the policies that handle the problems concerning technology progress, market cultivation and industrial regulation.[1] Renewable energy usually refers to those energies that do not pollute the environment and could be recycled in nature. Renewable energy is categorized to be traditional and new renewable energy. The former mainly includes giant hydropower and biomass burnt directly; the latter mainly refers to small hydropower, solar energy, wind energy, biomass energy, geothermal energy and ocean energy, etc. The renewable energy (RE), or new energy (NE), mentioned in this article all refer to the latter.