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Report says China leads in energy transition
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China is an 鈥渦ndisputed leader鈥 in the world鈥檚 energy transition as the country is transforming its energy mix to sustain rapid economic growth and protect local environments and the global climate, leading energy and shipping certification agency DNV GL said in a report.
China鈥檚 target is for renewables to account for 27 percent of power generation by 2020, while electricity is the focus of the energy transition, according to DNV GL鈥檚 latest Energy Transition Outlook.
The Norway-based international certification agency predicted that Greater China鈥檚 energy mix will change dramatically in the next two decades.
Currently, 82 percent of the region鈥檚 energy demand is supplied by coal and oil while coal is by far the largest source, the report said.
From 2023, coal use will start to decline, first slowly and later more rapidly, and by 2050 it will supply only 11 percent of total energy, according to the report.
Oil use will continue to show solid growth and will peak in 2030 at a level 41 percent higher than today. Natural gas will grow its share in total energy use from 7 percent today to 19 percent in 2050. China is leading the world鈥檚 wind and solar photovoltaics growth, and the two sources combined will have 39 percent of the region鈥檚 energy use in 2050, the report said.
Greater China鈥檚 electricity use in residential and commercial buildings and in transportation will increase rapidly, leading to electricity demand almost tripling by 2050. Power generation currently dominated by coal will soon diversify, with strong growth in gas-fired and nuclear power.
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