China can meet its ambitious, sixfold 2050 economic growth target using the same amount of energy in 2050 as in 2010 with substantially more renewable energy and less coal, a report launched at a sub-forum of the G20 Summit said.[Special Coverage]
One day after the Hangzhou G20 Summit, the Chinese top energy institute－the Energy Research Institute of the National Development and Reform Commission--together with its U.S. counterparts released a new China energy road map to achieve pledged goals on climate change and energy efficiency. The U.S. counterparts are the Lawrence Berkeley National Laboratory, Rocky Mountain Institute and the Energy Foundation China, which is part of the Energy Foundation based in San Francisco, California.
"This road map not only lays out the concept and provides the method to achieve the target, but also reinforces the imperative for a Chinese and global energy revolution," said Dai Yande, director general of the ERI.
According to the report, China will reach its carbon emission peak by 2025 and gradually cut emissions to 42 percent of 2010 level by 2050.
By 2050, non-fossil and non-emitting energy sources will generate 82 percent of China's electricity, and renewable sources alone will meet 68 percent of total energy demand on an absolute basis.
Consumption of China's major energy resource－coal－will peak by 2020, the report said.
To achieve the target, an overall new investment of 35 trillion yuan ($5.25 trillion) will be needed during the period 2010 to 2050 while it saves energy costs of 56 trillion yuan for China's economic growth. The latter figure does not include benefits to the environment, public health and energy security.
The research analyzed four pillar sectors of China's economy: industry, transportation, buildings, and electricity.
The analysis showed how demand reduction, energy efficiency, integrative design, renewable energy sources, and other options could be deployed to address China's most pressing energy challenges and support its development goals.
RMI managing director Jon Creyts said the report highlighted opportunities for the government and private sector in the energy sector.
"By including only commercially available technology that can be deployed at a net benefit to the country, the road map proves that the clean growth model can propel－not hinder－economic development," he said.
The research for the report was started in 2013 by ERI and was completed through collaboration with three international institutions－RMI, LBNL and EF China.
He Dongquan, vice president of Programs, Energy Foundation China, said it was an example of innovative international collaboration and the findings would be helpful for setting China's medium and long-term energy strategy, and also offering policy recommendations to facilitate China's transition to a low-emission, climate-resilient economy.
During G20 Summit, China and the United States formally joined the Paris agreement to fight climate change by cutting emissions.
