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China has saved $ 1.6 trillion (£ 1.2 trillion) over 20 years by switching from coal to renewable energy The authors said China had to shut down 588 coal plants in a decade to meet its climate pledges - but they insisted the move would save money.That's because renewable energy is now much cheaper than coal.This reflects a situation in the US where coal has fallen from being the cheapest to the most expensive primary fuel.China is currently operating 1,058 coal-fired power plants, more than half of the world's production capacity.
Report author from สมัคร slotxo TransitionZero The climate think tank said to achieve the stated goals of being "Carbon neutral" by 2060, China has to take serious action now.China has announced that it will build five new nuclear stations to supply clean energy, and President Xi has announced that he will attend the France-German climate summit on Friday.It is also a world leader in wind turbines and solar panels.
But over the past year, the country has strayed into a high-carbon direction, with regional governors building new power stations to fuel economic growth.
The report warned that China's 14th five-year plan was at risk of creating "Jam assets" that are coal-fired power plants that are built but not used.It uses first-ever satellite technology and machine learning to determine how much carbon dioxide is emitted by China's energy sector.Western diplomats are skeptical about the country's information, which is published on a monthly basis.By comparison, the UK and the US publish CO2 data at the plant level every day. The correct numbers are important as countries try to meet their commitments to cut their emissions.
'Trustworthy information'
Matt Gray, one of the authors of the report, told BBC News: “There must be reliable information on emissions in order for countries to trust each other in climate negotiations.Our analysis found that China could save money, reduce owing assets and improve its international reputation by replacing coal plants with non-carbon alternatives, ”he said.Former US Vice President Al Gore, one of the researchers, said: “The economic opportunities arising from the transition from coal to clean energy show that climate action and economic growth go hand in hand. together
Byford Tsang of Think Tank E3G told BBC News, "The numbers behind the report are quite strong - in some provinces in China, renewable energy is already equivalent or cheaper than coal." According to research published by the Global Energy Monitor, the recent growth in coal-fired power plant construction in China has offset the cuts in the rest of the world China completed 38.4 GW of new capacity in 2020, higher than the 37.8 GW of coal-fired power plants globally. It commissioned 76% of the world's new coal-fired power plants last year, up from 64% in 2019, according to TransitionZero.
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