China's power generation capacity will more than double by 2030, according to a new report. Half of China's new plants will run on renewable energy but coal will continue to dominate the mix.
China—the world’s largest emitter of carbon-dioxide—expects power demand to grow by 5% annually and plans to more than double its power generation capacity by 2030 to meet this relentless demand though a mix of fossil fuel- and renewable energy-powered plants.
Half of China’s new plants will be powered by renewable energy, but dirty coal remains—and will remain for the foreseeable future, the most important fossil fueling China’s growth.
China may add 1,583 gigawatts of capacity and attract $294 billion in renewables investment by 2030 even though the coal will still account for more than 50% of power generation.
While the environment might appreciate the rise in renewables, the specter of coal still haunts the atmosphere. To this end, China has indicated it may invest an additional $340 billion in energy-saving and emissions-reducing projects. In addition, the Chinese Environment Ministry is considering stricter controls on vehicle and industry pollution. (Related article: This Driving Force Could Change Offshore Oil)