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BP: China to join the world鈥檚 best in energy efficiency
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CHINA will join the world’s best in energy efficiency in the next two decades and help boost the global energy reform by developing renewable energies, according to British Petroleum.
The nation’s energy use per unit of gross domestic product will decline by 3 percent per year, “much faster than the expected global average,” BP predicted in a report released in Shanghai yesterday. It will make China get close to the level of advanced countries such as the United States by 2035.
China’s economic growth is shifting away from energy-intensive industrial output, driven more by consumer and service sectors and advanced manufacturing to improve energy efficiency, said Spencer Dale, BP’s chief economist.
Meanwhile, China is expected to contribute to 35 percent of demand increase in renewable energy worldwide in two decades, making it contribute to global energy reform, the report said.
China’s central government has pledged the proportion of non-fossil fuels should rise above 15 percent by 2020 from 12 percent in 2015, while the consumption of coal should be cut to below 58 percent of the total energy use from 64 percent in 2015, according to its 13th Five-year (2016-2020) Plan.
The world’s coal use will start to drop around 2025, “mainly driven by China’s shift to cleaner, lower-carbon fuels,” Dale said.
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