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Rapid cost decrease of renewables and storage accelerates the decarbonization of China’s power system

Author

Listed:
  • Gang He

    (Stony Brook University
    Lawrence Berkeley National Laboratory)

  • Jiang Lin

    (Lawrence Berkeley National Laboratory
    University of California, Berkeley)

  • Froylan Sifuentes

    (Lawrence Berkeley National Laboratory
    Western Washington University)

  • Xu Liu

    (Lawrence Berkeley National Laboratory)

  • Nikit Abhyankar

    (Lawrence Berkeley National Laboratory)

  • Amol Phadke

    (Lawrence Berkeley National Laboratory)

Abstract

The costs for solar photovoltaics, wind, and battery storage have dropped markedly since 2010, however, many recent studies and reports around the world have not adequately captured such dramatic decrease. Those costs are projected to decline further in the near future, bringing new prospects for the widespread penetration of renewables and extensive power-sector decarbonization that previous policy discussions did not fully consider. Here we show if cost trends for renewables continue, 62% of China’s electricity could come from non-fossil sources by 2030 at a cost that is 11% lower than achieved through a business-as-usual approach. Further, China’s power sector could cut half of its 2015 carbon emissions at a cost about 6% lower compared to business-as-usual conditions.

Suggested Citation

  • Gang He & Jiang Lin & Froylan Sifuentes & Xu Liu & Nikit Abhyankar & Amol Phadke, 2020. "Rapid cost decrease of renewables and storage accelerates the decarbonization of China’s power system," Nature Communications, Nature, vol. 11(1), pages 1-9, December.
    • Handle: RePEc:nat:natcom:v:11:y:2020:i:1:d:10.1038_s41467-020-16184-x
    DOI: 10.1038/s41467-020-16184-x
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