Experts say that if China implements a strong policy to end coal power by 2045, it could reach a point where clean energy is less expensive than fossil fuels three years sooner than anticipated. This could also help China achieve its goal of zero emissions by 2060.
Simon Sharpe, director of S-Curve Economics, a UK-based research organization, suggests that China would need to make significant changes to its power system and economic model. He believes that China could transition to a nearly zero-emission power system by the mid-2040s.
China has previously announced plans to reduce coal use starting in 2026 and aims for 80% of its energy to come from non-fossil fuel sources by 2060, the year it plans to be carbon neutral.
Sharpe recommends that China shift its investments from fossil fuels to clean energy sectors and create more targeted policies for industries like steel production, which are currently high emitters.
A recent report from the University of Exeter and the Climate Group calls for global mandates to limit global warming to 1.5 degrees Celsius and halve carbon emissions by 2025. The report suggests that developed economies should end coal power by 2035, with a 2045 deadline for developing economies. It also proposes that all vehicle sales should be zero-emission by 2035 and all truck sales by 2040, with all heating appliance sales being heat pumps by 2035.
These measures could make clean energy cheaper worldwide and reduce emissions in power, transport, and heating by at least 75% by 2050. The report highlights phasing out coal as the most effective initiative, potentially accelerating the clean energy transition in some countries by up to four years.
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