China Is Set To Become The World's Renewable Energy Superpower, According To New Report
Jan 11, 2019, 07:21am
The continuing growth in renewable energy around the world is set to boost the power of China while undermining the influence of major oil exporters such as Russia and Middle East states like Saudi Arabia, according to a new report on the geopolitical implications of the changing energy landscape.
“No country has put itself in a better position to become the world’s renewable energy superpower than China,” says the report, which was issued by the Global Commission on the Geopolitics of Energy Transformation – a group chaired by a former president of Iceland, Olafur Grimsson.
The
commission was set up by the International Renewable Energy Agency (IRENA) last year and its findings were published on January 11 in Abu Dhabi, at IRENA’s annual assembly.
Olafur Grimsson, former president of Iceland and chairman of the Global Commission on the Geopolitics of Energy Transformation, speaking at the launch of the group’s report on January 11 in Abu Dhabi, UAE (photo: IRENA)
Olafur Grimsson, former president of Iceland and chairman of the Global Commission on the Geopolitics of Energy Transformation, speaking at the launch of the group’s report on January 11 in Abu Dhabi, UAE (photo: IRENA) IRENA
The report argues that the geopolitical and socio-economic consequences of the rapid growth of renewable energy could be as profound as those which accompanied the shift from biomass to fossil fuels two centuries ago. The changes are likely to include the emergence of new energy leaders around the world, changing patterns of trade and the development of new alliances. It could also spark instability in some countries which have grown dependent on oil and gas revenues.
The report points out that China has taken a lead in renewable energy and is now the world’s largest producer, exporter and installer of solar panels, wind turbines, batteries and electric vehicles.
China also has a clear lead in terms of the underlying technology, with well over 150,000 renewable energy patents as of 2016, 29% of the global total. The next closest country is the U.S., which had a little over 100,000 patents, with Japan and the E.U. having closer to 75,000 patents each.
“The renewables revolution enhances the global leadership of China, reduces the influence of fossil fuel exporters and
brings energy independence to countries around the world,” said Grimsson, speaking at the launch of the report. “The transformation of energy brings big power shifts.”
Beyond China, there are a few other groups of countries which stand to gain from the trends now under way. They include countries with high potential for renewable energy generation, such as Australia and Chile, which could become significant exporters of renewable electricity. Mineral-rich countries such as Bolivia, the Democratic Republic of Congo and Mongolia could also tap into rising global demand for their raw materials.
Many of these governments are well aware of the risks they face and have been making significant investments into renewable energy in recent years. For example, the UAE has developed vast solar energy parks and
Saudi Arabia recently unveiled plans to develop 59GW of renewable energy by 2030.
Stressing a more optimistic view, Adnan Amin, director general of IRENA, said at the launch of the report that “The global energy transformation driven by renewables can reduce energy-related geopolitical tensions as we know them and will foster greater cooperation between states. This transformation can also mitigate social, economic and environmental challenges that are often among the root causes of geopolitical instability and conflict.”
China Is Set To Become The World's Renewable Energy Superpower, According To New Report
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