China makes nice after Copenhagen, passes green energy law

Little over a week since Copenhagen’s spectacular failure to battle global warming, China — one of the lead culprits — is trying to boost its image with a new law upping the use of renewable sources of energy. But, as many suspect, it seems to be too little too late.
The regulations will require government-owned grid operators to draw more power from hydroelectric dams and wind, and to reduce their dependence on coal — which, right now, accounts for 70 percent of the energy used in the country. Basically, these companies will be forced to buy all of the energy generated from these sources, even if its way more expensive than traditional alternatives.
China’s goal is to generate about 15 percent of its energy mix from renewables by 2020. Last year, this figure was 9 percent. This target complements its other major goal to cut carbon emissions by 40 to 45 percent (from 2005 levels) by 2020. The idea here is to reduce output relative to economic production so that the country’s growth isn’t stymied in the name of environmental policy.
Neither of these goals are particularly ambitious (consider the fact that California plans to generate 33 percent of its energy from renewables by 2020). But, paired with the new law, they do represent a step in the right direction for a country that has been frustratingly intractable on the global warming issue so far.
China certainly needs the good PR. It’s still taking a lot of the blame for stalling the climate talks earlier this month, along with the U.S., which also refused to take a more aggressive approach to emissions reduction. Many have said that China’s refusal to accept any global treaty proposals was the number one reason for the summit’s failure.
Even though its economy is expansive and growing fast, China assumed the role of ‘developing nation’ in Denmark, leading the charge of smaller, impoverished nations opposed to making steep reductions in emissions that could harm their economies. This divide, between developing and developed nations, was one of the most polarizing issues during the Copenhagen conference, and China only fueled the fire.
Its new law, upping renewable requirements, hardly seems to make up for dashing international hopes. Especially when the country readily admits that its carbon emissions won’t peak for another 20 or so years. Then again, the U.S. hasn’t offered any legislation or mandates to make up for its part in the disaster. At least China appears to be trying.
And there is a thin silver lining. Because the new law will require grid operators to integrate more renewable sources of energy, major upgrades to electrical grids across the country will be needed. This could give the country’s Smart Grid industry the jolt it needs to rival other countries’ efforts in that area. Right now, General Electric in the U.S. and Siemens in Europe are dominating much of the globe’s grid projects. Will a new giant emerge from China as a byproduct of renewable legislation?