India and China, Full Speed Ahead in Climate Change Mitigation

chinese-and-indian-leaders-meetingWhile the United States is wondering what will happen next on climate change mitigation in their country, both India and China have recently unveiled very ambitious plans to fight local air pollution and global climate change.

According to an article from the Guardian, India plans nearly 60% of electricity capacity from non-fossil fuels by 2027. This makes the Indian government believe that it will exceed its Paris Agreements targets by far, with :

” A draft 10-year energy blueprint published this week predicts that 57% of India’s total electricity capacity will come from non-fossil fuel sources by 2027. The Paris climate accord target was 40% by 2030.”

The Guardian goes on to list how India could become a renewable energy super power in the next decade or so, as investments in the area are booming. From bringing electricity to 400 million people with solar energy to going LED or investing massively in renewables, India has been showing strong leadership in this most important issue for a few years now. To the point that, according to newspapers, renewable energy investments in India to reach $250 billion over next five years, and over a trillion by 2030.

In neighbouring China, the government has announced a plan that it will spend $360 billion on clean energy sources by 2020. This will result in the creation of 13 million jobs and cut significantly the amount of air pollution in Beijing and other Chinese cities.

Meanwhile, Beijing has announced that it will be closing  and/or not building another 104 coal-fired plants that were either due to be constructed soon or were being constructed. This move is significant – 120 Gigawatts of capacity – as it is equal to a third of the amounts of coal-fired plants in the United States.

China installed over 34 Gigawatts of solar PV capacity in 2016 alone as Cleantechnica reported, with over 11 GW in one month alone. This is absolutely staggering as it brings the total solar PV capacity of the country to 77 GW. Yes, capacity almost doubled in one year.

All this can be explained by the fact that renewables are getting more and more competitive every day and that smart countries invest in cost effective and low carbon solutions. In early 1996, the global solar PV capacity was of 200 MW, now the world installs that capacity every single day… Let that sink in. And it probably will not stop anytime soon as to Bloomberg New Energy Finance, solar is now becoming even cheaper than wind.

Edited, original article written by Edouard Stenger

Renewable Energy, a Rising Tide

Leading the surge is China, which already has a huge advantage in its current position at the front of the pack.china-investments

China has not only vastly expanded its domestic investment in renewable energy, it is plowing record sums into renewables markets overseas. As our report noted, China put $32 billion into foreign renewables projects in 2016 alone, and last week it said it would increase its bets on renewables by tenfold around the world before the end of 2020. That increased bet is likely to expand China’s renewable-energy employment base beyond its current 3.5 million level. Of note on this point: employment growth in renewables is in sharp contrast to massive worldwide layoffs in the oil, gas and coal industries.

Its domestic renewables push has given China priceless experience ahead of other nations, allowed it to develop leading-edge technology, educated a large, supporting labor force and created financial mechanisms to pay for the expansion. Now China is exporting its renewables juggernaut, taking stakes in projects of note elsewhere in Asia and in Africa, Europe, India, North America and South America.

We think the global boom in renewables will last for decades, driven not just by Chinese investment but by other emerging economies—and by industrialized ones as well. Growth in solar, wind and energy-efficiency initiatives are steadily reducing the costs of production and making renewable energy cheaper than traditional sources. Public pressure to combat pollution and build collective action on global climate change is growing. These are huge combined market forces that as we speak are shaping how electricity production, especially, is being reimagined.

In the fast-moving renewables revolution, economies as diverse as those of Bangladesh, Brazil, Chile, Indonesia, Kosovo, Mexico, the Philippines, Puerto Rico, and South Africa now have the means to foster prosperity without imposing harsh consequences on public health and the environment.

Meantime in the U.S., national energy-policy discussions are drifting the other way as an evidently over-the-hill gang takes power in Washington with hopes of going back in time to when companies like Exxon mattered more than they do now and when economic growth was driven by fossil-fuel consumption.

Those days are done, though, and so are the days when solar- and wind-powered energy were dismissed by skeptics as sci-fi experiments or “alternative” sources to traditional fossil-fuel generation.

There’s no turning the clock back. Clean energy has gone mainstream.

Abridged, article originally published here