Chinese authorities are not restricting coal power growth in the new five-year energy plan as Beijing doubles down on the fossil fuel as a “bottom-line guarantee” of the electricity system amid rising shares of renewable power.
China has unveiled its five-year plan for the energy sector, expecting renewable energy to boost its share of electricity supply by 2031, but also noting that it would aim to strengthen the role of coal a “bottom-line guarantee”.
China targets clean energy to account for 30% of its power generation by 2030, up from about 22% at present. While wind and solar are set to become the “mainstay” of the electricity mix, coal will continue to grow and act increasingly as a flexible backstop to boost energy security.
“China’s newly released five-year plan for the energy sector has very little to get excited about,” said Lauri Myllyvirta, co-founder of the Finland-based Centre for Research on Energy and Clean Air (CREA).
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“The increases in fossil power generation allowed by the targets are not aligned with China’s commitments to peak CO2 emissions and coal consumption and to reduce CO2 intensity by 2030, even with the slight acceleration in electrification,” Myllyvirta added.
China, despite the massive renewables push and its leading position as the world’s biggest investor in renewable power capacity additions, continues to rely on coal to meet its demand and fill in gaps whenever renewables falter, as was the case with wind power in recent months or with hydropower two years ago.
Last year, China accounted for a massive 78% of all global coal power capacity that began operating. The world’s top coal consumer and importer also makes up a whopping 86% of the total global capacity under construction and expected to be commissioned this year, according to the data analyzed by non-profit Global Energy Monitor (GEM).
By Charles Kennedy for Oilprice.com
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