One of the major issues faced by the Chinese economy, particularly in energy sector, is energy efficiency. The country ought to tackle this issue if it wants to reduce its CO2 emission rate.
Findings of RNCOS' latest market research report on "China Energy Sector Analysis" reveal that energy efficiency remains a major issue before the energy sector in China. For example, if national residential and commercial codes are well imposed, CO2 emission should reduce by 49 Million Tons in the year 2020, eliminating the need for 23 large coal-fired power plants.
In greenhouse gas emissions, China is 2nd only to the US. The phenomenal growth in the economy of China is primarily spurred by the use of huge quantities of coal - an inexpensive object found in abundance in the region - in energy mix of the country. However, China may curtail its rapid growth in emissions without impeding the economic growth, if it discontinues or lessens the use of coal and focuses on renewables and energy efficiency.
If China wants to stabilize its emissions by 2050, not only the country needs to deviate from coal (providing 70% of energy in the country at present), but also considerably increase its wind power targets, and cut down the user of energy per unit GDP (Gross Domestic Product) produced, by 23.7%, by the year 2010, as per the European Renewable Energy Council and Greenpeace's Sustainable China Energy Outlook report.
The report further states that China has enough potential and can develop 118GW of wind power, that is four-times the govt. target, and 25GW of solar PV by the year 2020.
Improvement in energy efficiency that Greenpeace advocates is just a bit above the goal of Chinese govt. to decrease energy consumption per unit GDP by 20% by the year 2010.
Though intimidating, the challenge to meet energy needs in China presents a plethora of opportunities, especially in meeting the need through enhanced energy efficiency.
RNCOS report "China Energy Sector Analysis" notifies, "Colossal energy demand in China is resulting in high CO2 emission owing to dependence on coal. Although there will be a decline in the dependence on coal, however it will continue to remain the major sources of energy in the country. If each of 1.3 Billion persons in China were to use energy at US per capita levels, carbon emissions in China - the major pollutant incriminated in global warming - will exceed total global carbon emissions, of 2004, by 22% in 2030."
The report is a must read for businesses, analysts, consultants, and individuals who're closely monitoring the developments in the energy sector in China. Key issues and facts analyzed in this report include: opportunities in the China Energy Sector, China energy consumption by energy source, importance of renewable energy sources for China, key drivers and challenges faced by China energy sector, etc.
About RNCOS E-Services Pvt Ltd.:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
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