Economic Impacts of Wind and Solar Photovoltaic Power Development in China

Abstract

Recently, wind and solar PV power industries have entered a stage of large-scale development in China. In this study, scenarios and an input-output model are built to assess the economic impacts of wind and solar PV power development in China from 2016-2030. Compared to the reference scenario, more added value is brought about in the development scenario while both scenarios generate the same amount of electricity. In the development scenario, the quantitative analysis implies that the added value brought about by wind and solar PV power industry, directly and directly, is about 5.0 times in 2030 more than that in 2015. During 2016-2030, about 8674 billion RMB (1300 billion dollars) and 6949 billion RMB (1042 billion dollars) added value could be generated respectively by wind power industry and solar PV power industry, accounting for about 0.58% and 0.47% of GDP. In addition, the main interdependent industries stimulated by wind power industry or solar PV power industry are different from those stimulated by coal-fired power industry.