智通财经网·2025-10-15 00:44Core Viewpoint - The National Development and Reform Commission (NDRC) has proposed a system to set renewable energy non-electric consumption ratios for energy users, which includes green hydrogen and methanol consumption. This policy is expected to effectively promote the green transformation of high-energy-consuming industries, particularly in steel and chemical sectors, leading to a new growth phase in the industry [1][2][4]. Summary by Relevant Sections Policy Implementation - The NDRC released a draft implementation plan for renewable energy consumption minimum ratio targets, which includes establishing a regulatory framework for non-electric renewable energy consumption [2][3]. - The plan sets two types of consumption ratio targets: one for renewable energy electricity consumption and another for non-electric consumption [3]. - The energy authorities will monitor and evaluate the implementation of these targets, ensuring compliance and establishing a transition period [3]. Impact on Industries - The inclusion of hydrogen and methanol consumption in the non-electric consumption ratio marks a significant policy shift, addressing structural issues in high-energy and high-carbon industries that struggle to reduce carbon emissions through renewable electricity alone [4]. - Green hydrogen can effectively replace carbon-intensive processes in industries like steelmaking, where traditional methods produce significant CO2 emissions [4]. - In the chemical sector, green hydrogen-derived products like green ammonia and green methanol can reduce reliance on fossil fuels, thus lowering carbon emissions during production [4]. Investment Opportunities - Companies involved in the production of electrolyzers, which convert green electricity into green hydrogen, are expected to benefit from this policy shift [2]. - Investors should focus on firms that are signing sales agreements with downstream customers or those that are leading in green methanol project investments and process innovations [2]. - The policy is likely to create opportunities for companies with cost advantages in green methanol and biogas synthesis processes [2].