GEIDCO Proposes to Build China Energy Internet for Carbon Emission Reduction Targets

Global Energy Interconnection Development and Cooperation Organization (GEIDCO), a non-governmental and non-profit organization initiated by State Grid, held a carbon peak and carbon neutrality achievement seminar in Beijing, as reported by Guancha.cn on March 20. For the first time, GEIDCO proposed a systematic plan about achieving carbon emission reduction targets through constructing the China energy internet. Briefly, China needs to promote clean alternatives for energy development and electricity for energy consumption; realize the dominance of clean energy in energy production and electricity in energy consumption; and develop energy and the country’s economy without carbon emission concerns.

GEIDCO’s plan consists of three phases to peak carbon emissions and reach carbon neutrality in the energy sector. The first stage is to peak carbon emissions as soon as possible before 2030, and the electricity industry shall peak carbon emissions firstly in 2025. In 2030, it is expected that China’s clean energy installed capacity will account for 67.5%, and 48% of the country’s electricity will be provided by solar and wind energy. The second is to accelerate decarbonization from 2030 to 2050, and the electricity industry should achieve nearly net-zero carbon emissions in 2050. The last stage is to achieve full carbon neutrality from 2050 to 2060. Specifically, China’s coal power installed capacity will all exit in 2060, and the industrial sector will mainly use electricity, supplemented by hydrogen energy. The number of electric vehicles will reach 390m in 2060 with a replacement rate exceeding 90%.

Sources:

https://www.guancha.cn/internation/2021_03_20_584744.shtml

https://finance.sina.com.cn/tech/2021-03-19/doc-ikknscsi8504893.shtml