Powerfree Works under Global Energy Crunch

Power shortages are turning out streetlights and shutting down factories in China. The poor in Brazil are choosing between paying for food or electricity. And fears are rising that Europe will have to ration electricity if it's a cold winter.

Chinese Government announced an action plan to bring carbon emissions to a peak this decade, and to install 1.2 TW of renewables (PV Industry).

In a notification sent to all provincial governments, the State Council confirmed figures which were initially published by the Chinese government in December. According to the document, non-fossil-fuel energy will account for 20% of consumption by the end of 2025, and a quarter of the total by 2030. Carbon dioxide emissions per unit of GDP will be cut by 65% compared to the 2005 levels, as part of the policy. In terms of renewables, the document calls for at least 1.2 TW of solar and wind generation capacity. According to National Energy Administration statistics, China currently had around 253 GW of solar at the end of 2020. The policy also calls for 120 GW of pumped hydro energy storage capacity and more than 30 GW of chemical storage and mandates solar on around half of the nation's new public-sector and industrial buildings.

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