China sets new renewables goals, penalties in revised plan
China is stepping up its push into renewable energy, proposing higher green power consumption targets and penalizing those who fail to meet those goals to help fund government subsidies to producers.
By Bloomberg news
The world's biggest energy consumer is aiming for renewables to account for at least 35 percent of electricity consumption by 2030, according to a revised draft plan from the National Development & Reform Commission seen by Bloomberg. Previously, the government has only set a goal for "non-fossil fuels" to make up 20 percent of energy use by 2030.
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