Study of Relationship between Renewable Energy ElectricPower and Economic Development in China Based on the Principle of Asymmetric Equilibrium

In this article, Johansen cointegration test, vector error correction model, granger causality test, impulse response and variance decomposition econometric methods were be used to study the relationship between electricity consumption and economic growth in China. In addition, the function of renewable electricity to development economic growth has been researched. The results showed that there is long-term equilibrium relationship between electricity consumption and economic growth in China, and renewable electricity’s contribution rate for economic growth is 12% currently, which expects to reach 20% in 2015.