Wind energy is a clean and sustainable energy, and wind power does not rely on fossil fuels. So there is no fuel price risk, and it, of course, does not include the environmental costs, such as carbon emissions. Becau...Wind energy is a clean and sustainable energy, and wind power does not rely on fossil fuels. So there is no fuel price risk, and it, of course, does not include the environmental costs, such as carbon emissions. Because of these unique advantages, wind power has gradually become an important part of the strategy of sustainable development in China. Now with the growing voices on global greenhouse gas emission reduction, and as a clean and efficient energy, wind power has huge potential in combating climate change, energy security pressures and the needs for energy. Wind power in China began to develop from the 1980s. In the first 20 years, the speed of development was slow; but since 2004, it has had an extremely rapid growth.This paper, in order to study the development mechanism of China's wind power industry, investigated and analyzed the status quo of wind power industry in China, and then found that (1) the development trend of wind power industry in China appears exponential growth; (2) China's installed capacity of wind power is still smaller than that os some other countries; (3) new subsidy policies bring developing opportunities to wind power industry in China; (4) the sectors of wind power industry are in unbalanced growing; (5) the owners of proposed wind farms are too optimistic though the built wind farm had many problems. In addition, by using the methodology of Game Theory, this paper has also constructed the matrix of pre-assessing risks of China's wind power industry to further discuss the potential risk factors within China's wind power industry as risk factors of wind farm construction, risk factors of production of wind turbines, risk factors of parts and components manufacturing industry under risk indicators like R&D, patents, the domestic policy, the international policy, the quality of products and the market regulation, in order to provide a scientific assessment and self-assessment tool for investors or implementers, and also to promote the further development of the wind power industry.展开更多
China: the future of nuclear powerWang Yonggan: In terms of the highlighted issue ofenergy security, oil is of paramount importance, coal isthe foundation and electricity is the pivot according
Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a signi...Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a significant input of investment projects,discount rate requires a well-calibrated evaluation because new energy power investment projects are highly capital intensive.The main objective of this paper is to evaluate the discount rate of China’s new energy power industry.First,we use Moving Average to correct the parameters of capital asset pricing model(CAPM)and weighted average cost of capital,which extends the literature on the avoidance of CAPM noise information problem.Second,we study the industry-level annual discount rates of mainly China’s new energy power industries,including hydropower,nuclear power,wind power,and photovoltaic power industries for the period of 2014-2019.The results show that discount rates in China’s new energy power industries evolved differently between the years of 2014-2019 with average annual discount rates being 7.56%,5.83%,5.60%,and 8.64%,for the hydropower,nuclear power,wind power,and photovoltaic power industries,respectively.In 2019,the four annual discount rates were highest for the photovoltaic power industry(8.66%),followed by hydropower(7.17%),wind power(5.72%),and nuclear power industry(5.26%).Forecasting to 2020 from the 2019 evaluation base period,the discount rates are 6.37%,5.00%,6.57%,and 9.05%for the photovoltaic power,hydropower,wind power,and nuclear power industries,respectively.Under the different capital structures,their forecasts for the photovoltaic power,hydropower,wind power,and nuclear power industries in 2020 are,respectively,within[4.35%,9.24%],[3.92%,7.10%],[4.58%,10.40%],[5.46%,14.81%].We also discussed more details on capital structure and forecast period of discount rates for China’s new energy power industries.Our analysis shows that it is necessary to establish a new energy power industry database and steadily promote the implementation of policies.展开更多
Nuclear power will be a must for Chinafor its energy development to meet thelarge energy demand of its hugepopulation and rapid economic development. China’s self-designed Qinshan NuclearPower Station of 300,000 kw i...Nuclear power will be a must for Chinafor its energy development to meet thelarge energy demand of its hugepopulation and rapid economic development. China’s self-designed Qinshan NuclearPower Station of 300,000 kw is now runningsmoothly.Its power generation units’ loadfactor was 66 percent in 1993 and 68 percentin 1994.Through examination andmeasurement,it can be certain that the designand manufacture quality of China-made fuelauxiliaries,steam generators and turbo-generation units at the station are reliableand satisfactory,with its radiative materialdischarge to the environment far below thenational level,not affecting the ambientenvironment radiative level.In July,1995,the Qinshan Nuclear Power Station wasaccepted by the State,enabling China展开更多
Sino-African relations have progressed significantly on the economic front over the past one and half decade ever since the establishment of the Forum on China-Africa Cooperation(FOCAC) in October 2000.For example。
China’s power industry has been in existence for over one hundred years, since 1882 when the first generating set began operation in Shanghai. Since the founding of New China in 1949, it has seen rapid development. B...China’s power industry has been in existence for over one hundred years, since 1882 when the first generating set began operation in Shanghai. Since the founding of New China in 1949, it has seen rapid development. By the end of 1994, the total capacity of China’s generating equipment was 200 million kw with a generating power of 9.05 billion kwh. China is a vast country for power production and consumption.展开更多
This paper summarizes the basic situation of the wind power development in China in 2008,and carries out a brief analysis of the proportion of the nationwide wind power to the global wind sector as well as to the tota...This paper summarizes the basic situation of the wind power development in China in 2008,and carries out a brief analysis of the proportion of the nationwide wind power to the global wind sector as well as to the total installed capacity in the country. By reviewing the remarkable achievements in China's wind power development since the enforcement of the Renewable Energy Act of the People's Republic of China,some issues concerning the policy effect and wind power development are touched on.展开更多
The year 2009 marks the 60th anniversary of the People's Republic of China.During the 60 years when the new China continuously developed and got stronger,China's power industry supplied streams of electricity ...The year 2009 marks the 60th anniversary of the People's Republic of China.During the 60 years when the new China continuously developed and got stronger,China's power industry supplied streams of electricity for economic development and people's life,making outstanding contributions to China's growth.展开更多
Within the seven years’ period from 1987 to 1994. the total installed capacity of China’s electric power industry doubled from 100 GW to 200 GW. This high rate of growth has imposed new and more stringent requiremen...Within the seven years’ period from 1987 to 1994. the total installed capacity of China’s electric power industry doubled from 100 GW to 200 GW. This high rate of growth has imposed new and more stringent requirements on all the branches in the展开更多
There were 75 medium-to-large projects attracting foreign capital in the power industry sector from 1979 to 1995, expanding the power capacity of China by about 49 million kilowatts and utilizing US$17.3 billion of co...There were 75 medium-to-large projects attracting foreign capital in the power industry sector from 1979 to 1995, expanding the power capacity of China by about 49 million kilowatts and utilizing US$17.3 billion of contractual foreign capital, accounting for 10 percent of total investment in power development in the same period. For-展开更多
Shi Dazhen, Minister of the Power Industry, has announced that China’s power Construction had developed to a new level, exceeding 200 GW. He said that China’s power generating capacity reached 100 GW in 1987 and 199...Shi Dazhen, Minister of the Power Industry, has announced that China’s power Construction had developed to a new level, exceeding 200 GW. He said that China’s power generating capacity reached 100 GW in 1987 and 199.9 GW at the end of last year. As another two 60,000 kilowatts of power generation units went into operation in March, this year, power generating capacity reaches 200 GW in only seven years. Such a construction scale and展开更多
1. The present manufacturing situation of China’s thermal power generation equipment By the year 1995. development of China’s electric power industry has experienced a course of a hundred years. Over a period of the...1. The present manufacturing situation of China’s thermal power generation equipment By the year 1995. development of China’s electric power industry has experienced a course of a hundred years. Over a period of the initial 50 years. China’s development of electric power was slow. At the time of 1949, the total installed capacity in China was 1,850 MW and the electricity generated was only 4.3 billion kWh. During the past 46 years after 1949, her展开更多
In light of China s Ninth Five-year Plan (1996-2000) for Electric Power Industry & the Long Term Targets by the Year 2010, the paper considers the strategy for developing China’s thermal power in the 21st century...In light of China s Ninth Five-year Plan (1996-2000) for Electric Power Industry & the Long Term Targets by the Year 2010, the paper considers the strategy for developing China’s thermal power in the 21st century shall be the efficiency and cleaning technology of coal use. Especially important is the structure of power sources and configuration of technology process, and secondly the implementation of energy saving and environmental protection ideology in the various stages of thermal power construction and design work.展开更多
基金supported by National Key Project of Scientific and Technical Supporting Programs Funded by Ministry of Science & Technology of China in the 11th Five-Year Plan(Grant No.2007BAC03A12)
文摘Wind energy is a clean and sustainable energy, and wind power does not rely on fossil fuels. So there is no fuel price risk, and it, of course, does not include the environmental costs, such as carbon emissions. Because of these unique advantages, wind power has gradually become an important part of the strategy of sustainable development in China. Now with the growing voices on global greenhouse gas emission reduction, and as a clean and efficient energy, wind power has huge potential in combating climate change, energy security pressures and the needs for energy. Wind power in China began to develop from the 1980s. In the first 20 years, the speed of development was slow; but since 2004, it has had an extremely rapid growth.This paper, in order to study the development mechanism of China's wind power industry, investigated and analyzed the status quo of wind power industry in China, and then found that (1) the development trend of wind power industry in China appears exponential growth; (2) China's installed capacity of wind power is still smaller than that os some other countries; (3) new subsidy policies bring developing opportunities to wind power industry in China; (4) the sectors of wind power industry are in unbalanced growing; (5) the owners of proposed wind farms are too optimistic though the built wind farm had many problems. In addition, by using the methodology of Game Theory, this paper has also constructed the matrix of pre-assessing risks of China's wind power industry to further discuss the potential risk factors within China's wind power industry as risk factors of wind farm construction, risk factors of production of wind turbines, risk factors of parts and components manufacturing industry under risk indicators like R&D, patents, the domestic policy, the international policy, the quality of products and the market regulation, in order to provide a scientific assessment and self-assessment tool for investors or implementers, and also to promote the further development of the wind power industry.
文摘China: the future of nuclear powerWang Yonggan: In terms of the highlighted issue ofenergy security, oil is of paramount importance, coal isthe foundation and electricity is the pivot according
文摘Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a significant input of investment projects,discount rate requires a well-calibrated evaluation because new energy power investment projects are highly capital intensive.The main objective of this paper is to evaluate the discount rate of China’s new energy power industry.First,we use Moving Average to correct the parameters of capital asset pricing model(CAPM)and weighted average cost of capital,which extends the literature on the avoidance of CAPM noise information problem.Second,we study the industry-level annual discount rates of mainly China’s new energy power industries,including hydropower,nuclear power,wind power,and photovoltaic power industries for the period of 2014-2019.The results show that discount rates in China’s new energy power industries evolved differently between the years of 2014-2019 with average annual discount rates being 7.56%,5.83%,5.60%,and 8.64%,for the hydropower,nuclear power,wind power,and photovoltaic power industries,respectively.In 2019,the four annual discount rates were highest for the photovoltaic power industry(8.66%),followed by hydropower(7.17%),wind power(5.72%),and nuclear power industry(5.26%).Forecasting to 2020 from the 2019 evaluation base period,the discount rates are 6.37%,5.00%,6.57%,and 9.05%for the photovoltaic power,hydropower,wind power,and nuclear power industries,respectively.Under the different capital structures,their forecasts for the photovoltaic power,hydropower,wind power,and nuclear power industries in 2020 are,respectively,within[4.35%,9.24%],[3.92%,7.10%],[4.58%,10.40%],[5.46%,14.81%].We also discussed more details on capital structure and forecast period of discount rates for China’s new energy power industries.Our analysis shows that it is necessary to establish a new energy power industry database and steadily promote the implementation of policies.
文摘Nuclear power will be a must for Chinafor its energy development to meet thelarge energy demand of its hugepopulation and rapid economic development. China’s self-designed Qinshan NuclearPower Station of 300,000 kw is now runningsmoothly.Its power generation units’ loadfactor was 66 percent in 1993 and 68 percentin 1994.Through examination andmeasurement,it can be certain that the designand manufacture quality of China-made fuelauxiliaries,steam generators and turbo-generation units at the station are reliableand satisfactory,with its radiative materialdischarge to the environment far below thenational level,not affecting the ambientenvironment radiative level.In July,1995,the Qinshan Nuclear Power Station wasaccepted by the State,enabling China
文摘Sino-African relations have progressed significantly on the economic front over the past one and half decade ever since the establishment of the Forum on China-Africa Cooperation(FOCAC) in October 2000.For example。
文摘China’s power industry has been in existence for over one hundred years, since 1882 when the first generating set began operation in Shanghai. Since the founding of New China in 1949, it has seen rapid development. By the end of 1994, the total capacity of China’s generating equipment was 200 million kw with a generating power of 9.05 billion kwh. China is a vast country for power production and consumption.
文摘This paper summarizes the basic situation of the wind power development in China in 2008,and carries out a brief analysis of the proportion of the nationwide wind power to the global wind sector as well as to the total installed capacity in the country. By reviewing the remarkable achievements in China's wind power development since the enforcement of the Renewable Energy Act of the People's Republic of China,some issues concerning the policy effect and wind power development are touched on.
文摘The year 2009 marks the 60th anniversary of the People's Republic of China.During the 60 years when the new China continuously developed and got stronger,China's power industry supplied streams of electricity for economic development and people's life,making outstanding contributions to China's growth.
文摘Within the seven years’ period from 1987 to 1994. the total installed capacity of China’s electric power industry doubled from 100 GW to 200 GW. This high rate of growth has imposed new and more stringent requirements on all the branches in the
文摘There were 75 medium-to-large projects attracting foreign capital in the power industry sector from 1979 to 1995, expanding the power capacity of China by about 49 million kilowatts and utilizing US$17.3 billion of contractual foreign capital, accounting for 10 percent of total investment in power development in the same period. For-
文摘Shi Dazhen, Minister of the Power Industry, has announced that China’s power Construction had developed to a new level, exceeding 200 GW. He said that China’s power generating capacity reached 100 GW in 1987 and 199.9 GW at the end of last year. As another two 60,000 kilowatts of power generation units went into operation in March, this year, power generating capacity reaches 200 GW in only seven years. Such a construction scale and
文摘1. The present manufacturing situation of China’s thermal power generation equipment By the year 1995. development of China’s electric power industry has experienced a course of a hundred years. Over a period of the initial 50 years. China’s development of electric power was slow. At the time of 1949, the total installed capacity in China was 1,850 MW and the electricity generated was only 4.3 billion kWh. During the past 46 years after 1949, her
文摘In light of China s Ninth Five-year Plan (1996-2000) for Electric Power Industry & the Long Term Targets by the Year 2010, the paper considers the strategy for developing China’s thermal power in the 21st century shall be the efficiency and cleaning technology of coal use. Especially important is the structure of power sources and configuration of technology process, and secondly the implementation of energy saving and environmental protection ideology in the various stages of thermal power construction and design work.