Provided the key effects of oil price shocks on the business cycle, it raises great interests whether renewable energy promotion leads to a more sustainable economic growth for China, one of most important developing economies in the world. To answer this question, this paper examines key macroeconomic and oil indicators on the transition of renewable energy sector in China. We model these shocks as predetermined using a structural vector autoregressive model of Chinese economy and then examine the cumulative impacts on the transition process of renewable energy consumption and investment. Our results present significantly positive yet asymmetric impacts, with the effects cumulating to 2-5% in contraction and stable periods. It also presents first evidence of transition probability and duration for investment and consumption in renewable energy in China. All the evidence is important to the promotion of renewable energy sector in China.