China's "re electrification" is accelerating

In the energy consumption sector, it is important to promote the deep substitution of electricity for fossil fuels and increase the proportion of electricity in terminal energy consumption, which is an important direction for building a clean, low-carbon, safe and efficient energy system. Data shows that electricity, as a clean and efficient terminal energy carrier, is a highly efficient energy utilization method with terminal utilization efficiency of over 90%, Shu Yinbiao, chairman of China Huaneng Group Co., Ltd.

Shu Yinbiao said that it is estimated that for every 1 percentage point increase in the proportion of electric energy in terminal energy consumption, China's energy consumption per unit of GDP will decrease by 3 percentage points. In 2018, the energy consumption per unit of domestic output value in China decreased by 3.1%, while the electricity consumption per unit of output value increased by 1.8%. The elasticity coefficient of electricity consumption exceeded 1 for the first time in recent years, reaching 1.29, marking the gradual acceleration of China's "re electrification".

According to the International Renewable Energy Agency, by 2050, the proportion of electricity in global energy consumption will increase from 20% to 45%, and the proportion of electricity in China's terminal energy consumption will increase to 47%.

Shu Yinbiao proposed that in the energy production link, we should promote the large-scale development and utilization of clean and efficient energy and accelerate the development of green low-carbon energy, which is an important path to build a clean, low-carbon, safe and efficient energy system. To improve the level of clean energy utilization, we must adhere to using renewable energy as the main force for energy transformation and development

Data shows that in the past decade, the average annual growth rate of global wind and photovoltaic power generation installations has reached 20% and 45%, respectively, while China's growth rates are around 45% and 170%, far higher than the growth rate of fossil energy installations during the same period. At the end of 2018, the installed capacity of renewable energy power generation in China exceeded 700 million kilowatts, and the installed capacity of hydropower, wind power, and photovoltaic power generation all reached the world's first.

"We should see that China's energy resource endowment structure determines the clean and efficient utilization of fossil energy, especially coal, in the coming period, which is still a long-term strategic task of energy transformation and development." Shu Yinbiao said, China has established a global clean coal power supply system, with 80% of coal power organizations meeting the requirements. The coal consumption for power supply remains the same as that of the world. At the same time, the country is continuously increasing its efforts to control loose coal, convert more coal into electricity, and improve the level of clean utilization of coal.

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