After announcing that China will peak carbon emissions by 2030 and achieve carbon neutrality by 2060, President Xi Jinping moved to advance the construction of a “New Power System” with renewable power as its main energy source. While there is consensus that power sector carbon reduction is key to meeting the carbon peaking and carbon neutrality goals, opinions within the industry differ regarding how to go about the construction of a new power system. NRDC and the China Energy Research Society (CERS) jointly held a Power Sector Roundtable titled Building a New Power System with Renewable Energy on July 16 to promote discussion among power sector stakeholders. The Roundtable attendees included eminent scholars, former officials from energy agencies, and executives from power companies. Key note speakers from power companies shared their perspectives on the estimation of energy consumption and renewable power generation capacity in 2060, the environment-security-economy nexus of building the New Power System, and the policy and market reforms needed. After a lively discussion on the necessity, characteristics, challenges, and roadmaps of building a new power system, the Roundtable members identified top-level design, policy, and framework innovations as well as technological advancements as critical to the success of the New Power System. NRDC and our partners will follow up with research to address these needs and with policy advocacy targeting key policymakers.