The World's #1 Renewable Energy Network for News, Information, and Companies.

Geothermal Energy To Become Next New Source of Chinese Renewable Growth

The National Energy Administration of China is developing its 13th five-year plan (2016-2020) for the development and use of geothermal resources, in a move to further boost the development of the sector, according to China Securities Journal.

Industry analysts said that the plan is another important step towards nationwide utilization of geothermal resources following the release of guidelines on promoting the development and use of geothermal energy. The plan is an indicator that geothermal energy is being promoted as the next new growth source across China's renewable energy sector following wind and solar.

According to the plan, annual geothermal utilization should reach 50 million tons of standard coal equivalent by the end of 2020, by which time an integrated technological and industrial system for the development and use of geothermal resources will be put in place across the country. Officials also plant to construct an operational model for the development and use of geothermal resources most suited for each region.

According to the Chinese energy regulator’s geothermal energy guidelines released in February of 2013, a national geothermal energy data and information system will be established by the end of 2015, with hopes that a nationwide geothermal heating program will cover an area of 500 million square meters while installed geothermal capacity will be expanded to 100 MW. As of the end of 2013, China’s aggregate installed capacity of geothermal power generation projects was a mere 27 MW with all projects located in Tibet, including the 25-MW Yangbajin geothermal power station.

Wang Guiling, secretary-general of Geothermal Resources Survey Center, China Geological Survey, said that the plan, which will also include a government subsidy plan, is on track to be issued next year. 

A number of Chinese companies, including Shanghai Hanbell Precise Machinery, Zhejiang Kaishan Compressor, Yantai Moon and Dalian Refrigeration, have jumped into the geothermal equipment market as the future for the market holds great promise thanks to the support from the central government, according to a securities researcher. 

The development and use of geothermal energy as a renewable clean energy is of great significance to the easing of the energy shortage as well as for environmental protection. As a country with substantial geothermal resources, China has 853 billion tons and 256 billion tons of standard coal equivalent in geothermal reserves and geothermal resources available for development, respectively, most of which are located in the eastern and southwestern parts of the country.

“Today, many countries and regions with no or few geothermal resources are actively using geothermal heat pumps, a technology which have experienced a rapid development over the past few years, to exploit geothermal resources,” said Wang Jiyang, a researcher at the Institute of Geology and Geophysics under the Chinese Academy of Sciences. “Geothermal energy has great growth potential as it is limitless and available in almost every corner of the globe.”

Lead image: Geothermal compass via Shutterstock

RELATED ARTICLES

Renewable Energy Is Beginning To Power Africa

Andrew Burger, Contributor According to the International Energy Agency, sub-Saharan Africa will require more than $300 billion in investment to achieve universal electricity access by 2030. Committing more than $7 billion in U.S. government support ...

First Anniversary of The Balkan Floods Highlights Renewable Energy Market Opportunities

Ilias Tsagas, Contributor One year ago this month, severe flooding in Serbia, Bosnia-Herzegovina and Croatia killed 79 people, displaced about half a million and caused economic paralysis of the region. In the wake of these the catastrophic events, ...
Canadian Climate Goals

Canada Announces Weak Climate Target

Danielle Droitsch, NRDC Last week, Canada has announced its contribution to the global effort to reduce greenhouse gases by announcing its post-2020 target. The target announced today is off-track to the 80 percent cut by 2050 they committed to in...
Renewable Energy Stocks

What Drives Alternative Energy Stocks?

Harris Roen, The Roen Financial Report Alternative energy became a serious market player after the turn of the millennium. Since that time, solar, wind, smart grid and other alternative energy stocks have experienced both strong up and down trends. The forces at...
Nanjing Shanglong Communications Liu Yuanyuan is Director of Operations and Co-Founder of Nanjing Shanglong Communications. Liu Yuanyuan previously held the position of office manager at the London Financial Times' China translation and editoria...

CURRENT MAGAZINE ISSUE

03/01/2015
Volume 18, Issue 3
file

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

FEATURED PARTNERS



EVENTS

Energy Storage USA 2015

Energy Storage USA is the leading conference in the United States focuse...

GEA Geothermal Energy Expo 2015

Every year, the Geothermal Energy Expo® hosts the world's largest ga...

National Geothermal Summit 2015

The Geothermal Energy Association (GEA) is pleased to be holding its fif...

COMPANY BLOGS

Net Zero Energy Efficient Buildings and Geothermal Heat Pumps

As the U.S. market for green building design and construction evolves, ...

California Solar Installations Put 6 Gigawatts of Power Online

That’s according to figures from the California Independent System...

Geothermal Earth Day Visual: Shaping Environmental Solutions

Earth day 2015 is an important point in history for the environment. Mem...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS