Thursday, July 17, 2008

China's commitment to clean energy

China needs lots of energy to fuel its aggressive economic development agenda. Right now coal is the primary source of that energy. It is estimated that four new coal plants a month are being built in China. Earlier this year China surpassed the United States as the world's number one emitter of greenhouse gases. That's the bad news. The good news is that China is blessed with abundant renewable energy resources -- particularly solar, wind and hydro. There also appears to be a strong and sincere commitment on the part of the Chinese government to develop and deploy clean energy technologies.

The not-so-good news is Coal will still figure prominently in China's plans for the foreseeable future. With India about to unleash a similar burst of economic growth, it's clear that developed countries like the U.S. must be willing to dramatically reduce their greenhouse gas emissions now in order to minimize the impacts of climate change as China and India pull their people out of poverty. (GW)

China's Real Problem

By Ken Silverstein
EnergyBiz Insider
July 18, 2008

The world's eyes will soon be on China. As millions watch the Olympic Games there this August, the nation will also be telling a refreshing story -- one that focuses on how it plans to increase its use of green energy.

China's vibrant economy is blossoming at 10 percent annually. But the paradox is that it must expand its energy consumption to feed this growth and in a way that does not contribute to its already poor air quality. The preponderance of the fuel it now consumes is coal, although it wants to make the switch to cleaner burning alternatives. The good news is that the nation is rich in hydropower sources while it is exploring other options such as nuclear, wind, solar, biomass and energy conservation.

In March, China released a plan to increase its renewable energy from 7.5 percent in 2005 to 10 percent in 2010. By 2020, the country says that sustainable power will provide 15 percent of its electricity and by 2050 green fuels will supply 30 percent. China, meanwhile, is also working to cut its energy consumption by using new conservation tools. Within 15 years, the country says that it must attract more than $200 billion, most of which will come from foreign capital that is demanding internal market reforms.

"I think China will be number one in less than three years in every renewable energy market in the world," says Chris Flavin, president of Worldwatch Institute, during the presentation of the group's annual State of the World. "I am becoming increasingly confident in the case of China in particular that there is going to be an ability to make the transition to being at the forefront of innovation."

The organization, which focuses on sustainability issues, goes on to say that China is about to surpass the United States in terms of global greenhouse gas emissions that are tied to global warming. But it also says that the nation is an "innovator" in the field of renewable energy. Its government, for example, enacted policies in 2006 that mandate green energy programs. Along those lines, hydropower now provides 25 percent of all power generated in China while the country produces low-energy light bulbs that the rest of the world will buy.

China and other developing nations are not required to meet the targets set forth by the Kyoto Protocol to reduce greenhouse gas emissions by 5 percent from 1990 levels by 2012. But the country has set a goal to cut all pollutants by 4 percent a year for the next five years -- a promise made in response to a proclamation by global scientists that global air temperatures could rise by 3-7 degrees Fahrenheit by 2100 and bring with it more droughts, heat waves and rising sea levels.

"Although there are some great success stories in Europe in terms of renewable energy, I don't think anyone can compare with China in terms of the speed with which new markets have been created and in the comprehensiveness and effectiveness of new laws," says Worldwatch's Flavin.

Shine On

To be sure, China relies on coal to supply about 70 percent of electricity mix. Because it is abundant and domestically available, the U.S. Energy Information Administration is predicting that that coal consumption there will grow annually by 3.5 percent. While the nation is investing in new clean coal technologies to curb the level of harmful emissions, the World Bank is reporting that China is home to the most polluted cities in the world while other observers note that few of its cities could pass air quality tests in Europe.

To compound matters, rolling blackouts are prevalent. To keep up, power plant construction in China rivals that of Western Europe. The government there is approving all kinds of projects, most of which are to be fueled with coal. But the country recognizes that it must quickly diversify its energy mix if its economic dream is to continue to flourish well into the future.

Wind will figure into that blueprint. Right now, its installed wind capacity stands at about 6,000 megawatts (MW) -- well behind Germany, Spain and the United States. The country, nevertheless, is persevering and plans to have 20,000 MW installed by 2010. Three Gorges Dam, meantime, is underway there and will be completed in 2009. The hydropower facility is the biggest power project now taking place in the country.

Altogether, the plan is to have 120,000 megawatts of total renewable energy capacity, or 15 percent of the nation's total generation, by 2020. Attracting foreign capital is therefore essential. While policymakers are easing restrictions, much of China's economy is controlled by inefficient government enterprises. That's affected foreign direct investment, which now accounts for about 10 percent of all capital in the country's power sector -- not enough to meet the expected future demand.

The Chinese government is trying to make its utility industry appealing to private investors. To achieve that objective, it has been restructuring its electricity sector to allow investors to earn respectable annual returns of 8-10 percent. Toward that end, subsidies must be gradually reduced so that consumers have more exposure to true market forces. If done right, investors will not only help finance China's boom but they will also do so with modern energy technologies.

The 2008 Summer Olympic Games will give China a chance to shine. But, over the long haul, the country cannot afford to let its progress dissipate. To retain its gleam, China realizes that clean energy initiatives are vital to its economic expansion.


Blogger Coach Factory said...

chanel handbags, true religion, coach outlet store online, polo ralph lauren, oakley sunglasses, tory burch outlet, michael kors outlet, christian louboutin outlet, louis vuitton outlet, gucci handbags, burberry outlet online, cheap oakley sunglasses, louboutin shoes, kate spade handbags, prada outlet, nike air max, nike free, michael kors outlet store, kate spade outlet online, louis vuitton outlet online, longchamp outlet, burberry outlet online, michael kors outlet online, nike shoes, michael kors outlet online, ray ban sunglasses, oakley vault, louis vuitton outlet, louis vuitton, christian louboutin shoes, michael kors outlet online, michael kors outlet online, coach outlet, jordan shoes, prada handbags, louis vuitton handbags, red bottom shoes, longchamp outlet online, tiffany and co jewelry, coach outlet, nike air max, ray ban outlet, polo ralph lauren outlet, coach purses, longchamp handbags

11:00 PM  
Blogger Coach Factory said...

longchamp, nike roshe run, barbour, scarpe hogan, oakley pas cher, north face pas cher, ray ban uk, longchamp, nike air max, hollister, hermes pas cher, michael kors uk, guess pas cher, air max, burberry pas cher, ray ban pas cher, louis vuitton uk, tn pas cher, sac michael kors, nike blazer pas cher, nike air max, ralph lauren, converse pas cher, timberland, abercrombie and fitch, true religion outlet, michael kors canada, lululemon, sac louis vuitton, hollister, mulberry, louis vuitton pas cher, new balance pas cher, nike air force, vans pas cher, lacoste pas cher, longchamp pas cher, north face, sac vanessa bruno, nike huarache, nike free, chaussure louboutin, air jordan, air max pas cher, ralph lauren pas cher, nike trainers, nike roshe, nike free pas cher, louis vuitton, true religion outlet

11:01 PM  
Blogger Coach Factory said...

uggs outlet, giuseppe zanotti, mcm handbags, canada goose outlet, marc jacobs outlet, soccer jerseys, rolex watches, ugg soldes, mont blanc pens, ferragamo shoes, birkin bag, ugg outlet, babyliss pro, north face outlet, north face jackets, p90x workout, moncler, moncler outlet, herve leger, reebok outlet, canada goose, wedding dresses, moncler, abercrombie and fitch, lululemon outlet, celine handbags, valentino shoes, ghd, jimmy choo shoes, insanity workout, new balance outlet, roshe run, uggs on sale, asics shoes, moncler, beats headphones, canada goose outlet, nfl jerseys, canada goose outlet, instyler ionic styler, mac cosmetics, ugg, canada goose pas cher, vans outlet, bottega veneta, soccer shoes, chi flat iron, ugg boots, canada goose uk, hollister

11:02 PM  
Blogger ninest123 Ninest said...

ninest123 10.14
burberry handbags, ray ban sunglasses, michael kors outlet online, replica watches, michael kors outlet, louis vuitton, uggs outlet, longchamp outlet, longchamp outlet, polo ralph lauren outlet online, michael kors outlet, uggs on sale, michael kors outlet online, oakley sunglasses wholesale, christian louboutin outlet, longchamp outlet, ugg boots, gucci handbags, uggs outlet, christian louboutin shoes, tory burch outlet, michael kors outlet online, prada handbags, tiffany and co, replica watches, louis vuitton outlet, burberry outlet, ray ban sunglasses, chanel handbags, louis vuitton outlet, louis vuitton outlet, nike air max, nike air max, oakley sunglasses, ugg boots, nike outlet, jordan shoes, oakley sunglasses, prada outlet, cheap oakley sunglasses, louis vuitton, christian louboutin, tiffany jewelry, oakley sunglasses, christian louboutin uk, michael kors outlet store, ray ban sunglasses, polo outlet

11:35 PM  
Blogger ninest123 Ninest said...

nike free run, coach outlet, burberry pas cher, new balance, polo lacoste, ray ban uk, louboutin pas cher, timberland pas cher, vans pas cher, coach outlet store online, converse pas cher, north face uk, north face, michael kors, jordan pas cher, hogan outlet, true religion jeans, nike blazer pas cher, nike air force, nike air max uk, sac vanessa bruno, air max, nike roshe, coach purses, oakley pas cher, nike tn, true religion outlet, ray ban pas cher, abercrombie and fitch uk, hollister pas cher, sac longchamp pas cher, ralph lauren uk, michael kors pas cher, longchamp pas cher, nike roshe run uk, lululemon canada, nike free uk, michael kors outlet, coach outlet, true religion outlet, guess pas cher, nike air max uk, mulberry uk, nike air max, polo ralph lauren, kate spade, true religion outlet, sac hermes, hollister uk, michael kors

11:36 PM  
Blogger ninest123 Ninest said...

p90x workout, ralph lauren, vans outlet, mont blanc pens, herve leger, soccer jerseys, hermes belt, north face outlet, babyliss, celine handbags, timberland boots, iphone 6 cases, nike air max, gucci, instyler, mac cosmetics, bottega veneta, mcm handbags, baseball bats, abercrombie and fitch, hollister, chi flat iron, louboutin, asics running shoes, wedding dresses, longchamp uk, vans, ghd hair, nike trainers uk, beats by dre, nfl jerseys, giuseppe zanotti outlet, lululemon, converse outlet, converse, nike air max, oakley, new balance shoes, ray ban, hollister, hollister clothing, nike roshe run, insanity workout, ferragamo shoes, valentino shoes, nike huaraches, north face outlet, reebok outlet, soccer shoes, jimmy choo outlet, nike free, kate spade outlet

11:38 PM  
Blogger ninest123 Ninest said...

canada goose, thomas sabo, canada goose jackets, canada goose, louis vuitton, swarovski crystal, montre pas cher, louis vuitton, toms shoes, ugg,ugg australia,ugg italia, marc jacobs, wedding dresses, lancel, ugg,uggs,uggs canada, hollister, pandora jewelry, michael kors outlet, canada goose, canada goose outlet, louis vuitton, supra shoes, doudoune moncler, pandora charms, moncler outlet, juicy couture outlet, moncler, moncler, canada goose uk, moncler outlet, louis vuitton, replica watches, links of london, doke gabbana, canada goose outlet, ugg pas cher, michael kors handbags, louis vuitton, moncler, michael kors outlet online, swarovski, barbour uk, juicy couture outlet, pandora uk, ugg, karen millen uk, ugg uk, pandora jewelry, coach outlet, moncler, moncler uk, canada goose outlet, barbour
ninest123 10.14

11:38 PM  

Post a Comment

<< Home