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Wen Qiuhong: Is the golden age of new energy coming?

2019-07-25

The changes of energy structure are happening around the world and China, which are called “Something Unseen in a Century”. Considering that the basic connotation of energy is changing, it is necessary to think about whether the new energy revolution is coming? On July 16, Wen Qiuhong, chief engineer of CNOOC Research Institute, delivered a lecture at the Chongyang Institute for Financial Studies of Renmin University of China, deeply interpreting the current situation and future of China's new energy development.



At first, Professor Wen described the development process of global energy from the past, present to future. In 2000, the world’s energy structure was 40% oil, 22% nature gas, 25% coal, 6% nuclear and hydroelectric resource, and 1% renewable energy. It can be seen that oil resource is in the first place and new energy is second. Twenty years later, what has the global energy structure changed? Professor Wen said the share of the oil resource has fallen by 34%, but coal and nature gas has risen. Apart from that, the share of nuclear energy has declined, hydroelectric resource has remained stable, and renewable energy has risen to 4%. Although the proportion of oil was declining, the total demand was not. By 2040, the more diversified energy structure will be divided into four main parts including oil, natural gas, coal and clean energy, and will gradually replace the original one which is dominated by petroleum. The past, present and future of China's energy development are following such a trend. Therefore, the global and China’s changes in energy structure indicate that it is the new energy revolution.


Second, the main features of the new energy revolution. Professor Wen said that new energy significantly influences the structure of electric power to make energy increasingly electrified in the future. Electricity is used directly on daily basis. Now, 40% of primary energy is converted into electricity. And in the future, it may reach 60%. Why have new energy changed so much in the past two decades?


1.The fan technology is developing and getting more intelligent. At the same time, the technology of photovoltaic power generation is also constantly improving, and the conversion efficiency of photovoltaic modules is increasing.


2.Reducing costs is the core competitiveness of an industry. In China, not only is the price of electricity cheap, but the price of photovoltaic modules is also decreasing.


3. Diversification is another characteristic of new energy including wind power, photovoltaic power generation, biomass energy, geothermal energy, ocean energy, garbage power generation and so on.


At present, China has become a leading country in the new energy development.


Third, correct understanding of the development of new energy.


1.Nowadays, new energy is very popular in the society, but we should also have a correct understanding. In the future, fossil energy is still the main energy in the whole primary energy structure, and new energy cannot completely replace fossil energy.


2.Wind power and photovoltaic are the main parts in the structure of new energy with strong intermittent.


3.The process of energy transformation definitely is long-term and complex.


4.It is clear that every country will have their own economic requirements, and make diverse strategies for developing energy, on the basis of resource endowments and stages of development.


Finally, Professor Wen put forward several suggestions for the future development of new energy in China.


1. Developing new energy is an important and realistic measure to achieve sustainable energy development in our country.


2. Our country has a good foundation in the field of new energy, which can allow us to further develop. But we should also soberly realize that in many areas of new energy, we need more accumulation of basic research, in order to lead the further development of new energy.


3. We are vigorously developing the “Belt and Road”. New energy has a good basis in China. So we can take it as China's new visiting card to bringing to the world and the “Belt and Road” countries.


4. The last is my immature opinion. When new energy is promoted to “the Belt and Road” countries, we should promote the establishment of RMB pricing system for new energy.



In general, energy is changing, and new energy is the most important driving force for energy transformation. The development of new energy depends on the improvement of technology and the reduction of costs. In the future, new energy will play a critical role, enlarge its proportion in our energy structure to provide us with cleaner and safer energy and promote energy transformation in our country.

Key Words: New energy   China   lecture   RDCY  

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