NewEnergyNews: China Could Be The New Energy Superpower

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    Friday, January 18, 2019

    China Could Be The New Energy Superpower

    Will China Be The Superpower In A World Transformed By Renewable Energy?

    Adnan Z. Amin, January 12, 2019 (Newsweek)

    “…The untold story of renewables is that they’re transforming the global energy system at a speed no one predicted. In recent years, technological advances and falling costs have made renewables genuinely commercially competitive. Price trends suggest that by 2020, the average price of electricity generated by solar and wind sources will be at the lower end of fossil fuel prices…The other critical factors in this quiet revolution have been agreement on the imperative to counter climate change, leading to ambitious renewable energy targets; action by investors; and a global public opinion increasingly supportive of renewables…Nimble players have already seized the opportunity not only to secure their own future energy supplies but to become new energy leaders…

    China has put itself in pole position to be the world’s renewable energy superpower. It is the world’s largest producer, exporter and installer of solar panels, wind turbines and electric vehicles, and accounted for over 45% of global investment in renewable energy in 2017. In Europe, Germany generated 40% of its electricity through renewable sources in 2018…Shipping routes will become less important; those countries with the best connectivity, networks and ‘grid infrastructure’ (power lines, storage facilities, virtual interconnections) will hold the strategic advantage in controlling energy supply routes. China’s Belt and Road Initiative, which seeks to connect Asia, Africa and Europe through infrastructure, is significant…Countries may also seek to integrate their grids with those of neighbouring countries; for example, in the proposed Asia Super Grid… The New Energy Age will help shape a very different world…” click here for more

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