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China can just build more coal-fired power plants to satisfy the increased demand for electricity (and are incentivized to, given their promise to peak emission
by votepaunchy 3y ago
China can just build more coal-fired power plants to satisfy the increased demand for electricity (and are incentivized to, given their promise to peak emissions in 2030).
The West cannot, so the limited ramp-up will naturally focus first on the premium market.
- Qem 3y agohttps://www.spglobal.com/commodityinsights/en/market-insights/latest-news/energy-transition/020824-infographic-china-solar-capacity-coal-electricity-renewable-energy-hydro-wind https://www.spglobal.com/commodityinsights/en/market-insight...
- bryanlarsen 3y agoEven if 100% of new cars sold were electric, it would take ~20 years to turn over the whole fleet. Once turned over, electric cars will require 20% more electricity than currently used. IOW, additional demand is under 1% per year. We build more new natgas than that every year.