Top Chinese policymakers recently announced that accelerating the construction of a New Energy System while improving energy security will be a key economic priority in 2024. To align industry stakeholders’ views on pathways towards a clean and stable power sector transition that is integral to energy system decarbonization, NRDC and the China Energy Research Society (CERS) held our year-end high-level Power Sector Roundtable (PSR) on December 22. 

The Roundtable members, some of the top energy experts in China, called for a holistic power market reform that coordinates various power markets and renewable energy expansion policies to achieve power decarbonization while ensuring energy security. Specifically, the Roundtable members highlighted the potential of demand-side resources as a key solution to the challenge of expensive energy storage costs and noted that viable market incentives are required to fully utilize their potential. 

In addition, NRDC and CERS also released a new book, Roadmap Research for the Construction of a New Power System, the first-of-its-kind, which encapsulated the findings of our joint research over the past two years and provided policymakers with a comprehensive set of policy tools for charting the path toward a New Power System. The insights from experts and the book gained coverage from China Power News, the Paper, and National Business Daily.