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Shu Yinbiao: The era of "grid parity" for PV has arrived
June 11,2021

  "Achieving carbon peaking and carbon neutrality means broad and profound transformation in the economic and social systems and is critical tothe sustainable development of the Chinese nation and the building of a community of shared future for the mankind." Shu Yinbiao, Chairman of China Huaneng Group Corporation and an academician of the Chinese Academy of Engineering, shared his views at the plenary session two"Leveraging the Financial Market to Achieve Carbon Peaking and Carbon Neutrality" of the 13th Lujiazui Forum held today.

  Shu commentedthat achieving carbon peaking and carbon neutrality will be challenging, but China enjoys a sound basis to attain the goal. In the past ten years, the share of clean energy in China’s energy mix has been increasing rapidly while that of coal has been on a continuous decline. In this period, China accounted for nearly one third of the world’s power generated from new energy. In addition, China's investment in new energy power generation equaled 30% of the world's total, and the cost of onshore wind power was reduced by 40% and PV by 80%. The era of "grid parity" for PV has arrived. China now has a relatively complete industrial chain of new energy production, especially PV and wind turbines, andthe world’s largest capacity of new energy power generation thanks to innovation in science and technology.