China's Energy Solution: Ignore the Cost

Perhaps you’ve heard the argument that the world needs to move from coal to renewables at any cost. China now appears to be applying this idea quite literally.

In an amendment to a 2006 renewable energy law, the Chinese government has mandated that state-owned electric grid companies buy all of the renewable energy produced by generators, regardless of the price.

Wow. And I thought U.S. refiners were getting a rough deal with the pending U.S. climate legislation. I would not want to own Huaneng Power in a world where the price for electric generation is suddenly irrelevant. No wonder the company trades near a multi-year low.

Motley Fool