Report predicts strong growth of renewable energy consumption in China

2018-04-15
Xinhua

BEIJING — China’s renewable energy consumption is expanding rapidly, with an expected rise of 9.5 percent per year from 2016 until 2040, according to a BP report.

China is expected to account for 31 percent of global renewable energy consumption by 2040, according to the “BP Energy Outlook 2018” report released in Beijing on April 11.

BP publishes its energy outlook annually to examine and discuss potential energy demand based on assumptions about future changes in policy, technology, and the economy.

China’s energy mix continues to evolve, with coal’s dominance predicted to decline from 62 percent in 2016 to 36 percent in 2040, and natural gas is expected to nearly double to 13 percent by 2040, according to the report. The share of renewable energy is forecast to rise from 3 percent in 2016 to 18 percent in 2040.

As China transitions to a more sustainable pattern of growth, its energy needs change, the report said. The country’s changing energy mix is driven by its shifting economic structure and its commitment to moving to cleaner, lower carbon fuels.

The expansion in renewable energy is broad-based, with China and other parts of the developing world taking over from the EU as the main engine of growth, according to the outlook.