Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Industries

    Nation's edge in new energy could provide global solution

    By ZHENG XIN | China Daily Global | Updated: 2022-06-21 11:10
    Share
    Share - WeChat
    Employees assemble the bearing for a wind turbine at a wind-power equipment factory workshop in Hami, Xinjiang Uygur autonomous region, in May. LI HUA/FOR CHINA DAILY

    Higher oil prices worldwide expected to give boost to promotion of green power development

    China's rapidly developing new energy industry may offer a solution to the escalating oil prices that could possibly land countries across the world in the grip of an energy crisis.

    While fossil fuel still accounts for a relatively large proportion of China's energy mix, the share of renewable energy has climbed steadily over the past few years, thanks to technological advances and reduced costs.

    China's installed generation capacity of renewable energy reached 930 million kilowatts by the end of 2020, accounting for 42.4 percent of the country's total.

    By 2025, the total is expected to exceed 50 percent, and high oil prices worldwide may further accelerate the already strong momentum, said Luo Zuoxian, head of intelligence and research at the Sinopec Economics and Development Research Institute.

    Luo said that while high international oil prices might result in China, the world's largest crude oil importer, spending more on fossil fuel, they may also add more momentum to the development of renewable energy.

    China has been stepping up development of energy storage, including pumped hydro energy storage and chemical storage, to ensure more of the power generated by renewable energy can be connected to the national grid, he added.

    The cost of wind and solar power has already declined after years of effort. However, wind and solar power can only be produced when the wind is blowing or sun is shining, so effectively using renewable energy will remain challenging until appropriate energy storage technology is developed, he added.

    New energy is already developing at full tilt, and the high volatility of oil prices will give green energy a further push, because the development of new energy is closely related to the high prices of oil and gas, he said.

    The Brent crude futures contract reached $118.98 a barrel on Friday, while the US West Texas Intermediate crude settled at $116.79 a barrel. Both contracts are benchmarks widely used in the international oil markets.

    Luo said China' s booming renewable energy sector might provide a new solution to the world's economy while helping accelerate the global energy transition. Since high oil prices are expected to linger, the country's advantage in renewable energy development will become increasingly prominent, he said.

    The National Energy Administration said China sees its installed capacity for hydropower and wind and solar power ranking at No 1 for years to come, with these technologies rapidly developing and costs steadily decreasing.

    The country realized grid parity for solar power in 2021, which means solar power will cost the same as or less than conventional energy sources such as coal, oil and natural gas. The cost of generating wind power has also been reduced.

    According to the China Renewable Energy Society, the per kilowatt-hour cost of electricity generated by onshore wind in China declined about 40 percent from 2010 to 2020. Most of the newly built wind farms have also achieved grid parity, it said.

    China's offshore wind generation cost has declined about 53 percent during that period and is expected to achieve grid parity in three years, it said.

    "The high oil price crisis will accelerate the energy transition," Marcel van Poecke, managing director of Carlyle International Energy Partners, was quoted by news portal Politico as saying. "People will say we don't want to be dependent anymore."

    In recent years, China has been stepping up development of renewable energy, including solar and wind power, making tremendous achievements in the sector as the country aims to reach carbon peak by 2030 and carbon neutrality by 2060.

    As part of its green energy transition, the government vows to generate 3.3 trillion kilowatt-hours of electricity from renewable energy by 2025, and its total renewable energy consumption will equal 1 billion metric tons of standard coal by then.

    The increase in generated renewable energy will exceed 50 percent during this period. The generation of wind and solar power will double, according to the National Development and Reform Commission, China's top economic regulator.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    国产精品无码一区二区在线观一| 久久超乳爆乳中文字幕| 亚洲日本欧美日韩中文字幕| 免费无码又爽又刺激高潮视频| 久久中文精品无码中文字幕| 亚洲Av无码乱码在线znlu| 亚洲级αV无码毛片久久精品| 波多野结衣中文在线| 青春草无码精品视频在线观| 亚洲av无码不卡一区二区三区| 色多多国产中文字幕在线| 日韩精品久久无码中文字幕 | 无码人妻精品一区二区三区66| 最近高清中文在线国语字幕5| 伊人久久一区二区三区无码| 99精品人妻无码专区在线视频区| 亚洲国产综合无码一区| 国产麻豆天美果冻无码视频| 日本欧美亚洲中文| 精品久久久久中文字| а√天堂中文官网8| 亚洲乱码中文字幕综合| 影院无码人妻精品一区二区| 久久久久成人精品无码| 无码精品一区二区三区免费视频| 精品人妻无码一区二区色欲产成人| 亚洲日产无码中文字幕| 精品久久久久久无码不卡| 久久有码中文字幕| 一本精品中文字幕在线| 中文无码喷潮在线播放| 白嫩少妇激情无码| 中文字幕人妻无码一夲道| 亚洲中文字幕无码永久在线| 中文字幕av无码专区第一页| 成人午夜精品无码区久久| 亚洲日韩精品A∨片无码| 四虎成人精品无码| 丰满岳乱妇在线观看中字无码| 国产精品一级毛片无码视频| 免费一区二区无码视频在线播放|