New Report Documents China’s ‘Renewable-Energy Revolution’ FacebookTwitterLinkedInEmailPrint分享Project Syndicate:At the start of 2017, China announced that it would invest $360 billion in renewable energy by 2020 and scrap plans to build 85 coal-fired power plants. In March, Chinese authorities reported that the country was already exceeding official targets for energy efficiency, carbon intensity, and the share of clean energy sources. And just last month, China’s energy regulator, the National Energy Administration, rolled out new measures to reduce the country’s dependence on coal. These are just the latest indicators that China is at the center of a global energy transformation, which is being driven by technological change and the falling cost of renewables. But China is not just investing in renewables and phasing out coal. It also accounts for a growing share of global energy demand, meaning that its economy’s continuing shift toward service- and consumption-led growth will reshape the resource sector worldwide. At the same time, various other factors are reducing global resource consumption, including increased energy efficiency in residential, industrial, and commercial buildings, and lower demand for energy in transportation, owing to the proliferation of autonomous vehicles and ride sharing. According to Beyond the Supercycle: How Technology Is Reshaping Resources, a new report from the McKinsey Global Institute (MGI), these trends are slowing the growth of primary energy demand. If rapid adoption of new technologies continues, that demand could peak in 2025. And with less intensive energy use and increased efficiency, energy productivity in the global economy could increase by 40-70% over the next two decades. While global growth in energy demand is slowing, China’s share of that demand is increasing. By 2035, China may account for 28% of the world’s primary energy demand, up from 23% today, whereas the United States could account for just 12% by 2035, down from 16% today. China has already made significant progress in reducing its resource intensity: between 1980 and 2010, its economy grew 18-fold, but its energy consumption grew only fivefold. According to World Bank data, that reflects a 70% decline in energy intensity per unit of GDP. In its 13th Five-Year Plan, the Chinese government aims to reduce energy intensity by a total of 15% between 2016 and 2020. It is already well on its way toward achieving that goal. At the Chinese Communist Party’s National People’s Congress earlier this year, Chinese Premier Li Keqiang reported that China’s energy intensity fell by 5% last year alone. Renewables are one reason for China’s declining resource intensity. Hoping to become a world leader in the field, China is already investing more than $100 billion in domestic renewables every year. That is twice the level of US investment in domestic renewable energy and more than the combined annual investment of the US and the European Union. In addition, China is investing $32 billion – more than any other country – in renewables overseas, with top-tier Chinese companies increasingly taking the lead in global renewable-energy value chains. China’s State Grid Corporation has plans to develop an energy grid that draws on wind turbines and solar panels from around the world. Chinese solar-panel manufacturers are estimated to have a 20% cost advantage over their US peers, owing to economies of scale and more advanced supply-chain development. And Chinese wind-turbine manufacturers, having gradually closed technology gaps, now account for more than 90% of the Chinese domestic market, up from just 25% in 2002.Full article: China’s Renewable-Energy Revolution
For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: Bangladesh’s players, led by Shakib Al Hasan, have finally called off the strike paving the way for the team to tour India for three Twenty20 Internationals and two Tests beginning on November 3. The strike was called over pay and benefits and it was over after getting assurance from the country’s board that all their demands will be met. The deadlock between the players and Bangladesh Cricket Board (BCB) ended after a two-hour long meeting which went on close to midnight on Wednesday. Shakib attended the meeting alongside other senior players including Mushfiqur Rahim, Mahmudullah and Tamim Iqbal. The players added two more demands to the 11 made on Monday, asking for a percentage of BCB revenues and equal pay for women cricketers. BCB president Nazmul Hassan did not commit anything on the two latest demands but said the original 11 will be fulfilled. Players had also demanded fresh elections in the players’ body and BCB agreed to that. Speaking to ESPNCricinfo, Shakib said the meeting was fruitful. “As Papon bhai (BCB boss Nazmul Hassan) said, it was a fruitful discussion. He and the rest of the directors assured us that our demands will be met as soon as possible. Based on their assurance, we will start playing the NCL and attend the training camp,” Shakib said. The strike was apparently triggered by the decision on the Bangladesh Premier League, which reduced the average professional cricketer’s earning. Players’ woes were furthered after the Bangladesh Cricket Board didn’t raise the match fees in the first-class competition. The major demands of the players was the Dhaka Premier League, which is considered as the premier tournament in domestic cricket, should not have a salary cap. The Bangladesh Cricket Board had stated that the Bangladesh Premier League would be not be franchise-based after a fall-out with the franchises earlier in September.Also Read | Shakib Al Hasan Does Not Have Much Interest, Dislikes Test: Bangladesh Cricket Board ChiefOn Tuesday night, the Bangladesh Cricket Board agreed to one of the key demands of the players – to bring back the Dhaka Premier League’s club transfer system – following a meeting of the Dhaka league committee. The players’ other main demands were: Bangladesh Premier League (BPL) must go back to franchise model, central contract salary should be higher, and include more players, higher first class match fees and players’ association to no longer have conflict of interest.