China is an “undisputed leader” in the global energy transition and the country transforms its energy mix in order to maintain its rapid economic development, protect its environment and contribute to addressing the climate change. This data shows a report by the Norway-based energy and transport certification agency DNV GL.
DNV GL predicts that China’s energy mix will change dramatically over the next two decades.
China’s aim is to make renewable energy sources generate 27 percent of the electricity by 2020 and electricity is at the heart of the energy transition.
At present, 82 percent of the energy consumed in China comes mainly from coal and oil. From 2023, the use of coal will be reduced. The peak of oil use will be in 2030 – 41 percent more than at present. Natural gas share will grow from 7 to 19 per cent in 2050.
China is a leading country in the introduction of wind and solar energy facilities, with these two sources accounting for 39 percent of the electricity use in 2050, the DNV GL report said.
Photovoltaic energy will outweigh coal as a major source of energy by 2034. By 2050, it will cover 52 percent of the region’s energy needs, with a total of 7 TWatts installed.
The report notes that the region of Greater China (definition of continental China, Hong Kong, Macao and Taiwan) is a leader in the efforts to electrify the transport sector. It has a leading position in the production of electric cars and is the world’s largest market for electric cars and buses.
In the meantime, according to the report, despite the continuing increase in carbon levels and the global failure in achieving the objectives of the Paris Climate Agreement, China is on the way to decarbonise its economy faster than any other. The price of energy projects based on non-traditional energy sources in China will decrease significantly by 2020, analysts expect. They explain it by reducing the cost of equipment and improving the design of the components.
