Renewable energy, often referred to as clean energy comes from natural sources or processes that are constantly replenished.
While renewable energy is often thought of as a new technology, harnessing nature’s power has long been used for heating, transportation, lighting, and more. Wind has powered boats to sail the seas and windmills to grind grain. The sun has provided warmth during the day and helped kindle fires to last into the evening. But over the past 500 years or so, humans increasingly turned to cheaper, dirtier energy sources such as coal and fracked gas.
Now that we have increasingly innovative and less expensive ways to capture and retain wind and solar energy, renewables are becoming a more important power source, accounting for more than one-eighth of U.S. generation. The expansion in renewables and innovation in energy storage technology are also happening at scales large and small, from rooftop solar panels on homes, from newly innovative distributed gravity storage that can sell power back to the grid to giant offshore wind farms both from traditional and newly developed oceanic wave energy. Even some entire rural communities rely on renewable energy for heating and lighting. As renewable use continues to grow, a key goal will be to modernize electricity grid, improve the energy storage capability, making it smarter, distributed, more secure, and better integrated across the world.
Sinoaccess recognizes the growing scientific and political consensus that emissions of carbon dioxide and other greenhouse gases are contributing to climate change worldwide. Sinoaccess further recognizes that our markets face significant risks and opportunities associated with climate change, either indirectly through changes in the regulatory environment or directly through changes in the physical investment environment. Sinoaccess believes that our clients will benefit from a greater understanding of these risks and opportunities presented by climate change not only in China but worldwide.
China is now committed to carbon neutrality by 2060 and is already the world’s leading renewable energy producer and in terms of installed renewable capacity. With the combination of cost advantages, a clear policy framework, a dynamic and entrepreneurial business environment and abundant abatement opportunities, China is proving that developing nations have as much, if not more, to gain from investment in low carbon solutions creating green-collar jobs, social benefits and economic growth.