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ACHIEVING AN 80% CARBON FREE ELECTRICITY SYSTEM IN CHINA BY 2035
The report finds that achieving an 80% non-fossil electricity share by 2035 is technically feasible and would lower wholesale electricity costs compared to current policy trajectories. This transition would be driven by the declining costs of wind, solar, and battery storage, which the authors argue are now more cost-effective than new coal generation. The 'Clean Energy' scenario would significantly reduce CO2 emissions and premature deaths from air pollution, while resulting in a net increase in employment, despite losses in the coal mining sector. Reliability analysis suggests the system can maintain a 10% operating reserve margin even with high variable renewable penetration and the retirement of 250 to 300 GW of coal capacity.
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Document type: Report