Washington is expected to spend $1 trillion to underwrite green energy production this year in an effort to reach the administration's goal of net zero emissions by 2050. Even if the U.S. achieves its target, it might not reduce global emissions because coal plants are springing up like mushrooms everywhere.
Although China is a signatory to the Paris Climate Agreement, its actions do not match its state-sanctioned support for the green agenda. China built more than three times as much coal plant capacity as the rest of the world in 2020. This translates into more than one coal plant every week.
A report by San Francisco-based think tank Global Energy Monitor and the Centre of Research on Energy and Clean Air documents China's thirst for coal power. Research shows China grew its coal power by 29.8 Gigawatts (GW) while the rest of the world decreased capacity by 17.2 GW.
In 2021, China added more coal plants since 2016 as its power demands increased. The world's most populous country has 1,100 coal fired power plants producing electricity. That is nearly four times as many as the second-largest coal energy producer, India, which has 285 plants.
Climate activists claim that because of the Paris agreement China has reduced its dependence on coal. The country produces less of its total energy from coal than it did 10 years ago, dropping from 85% to 56%. But coal remains the chief energy source to power China.
China not only is the biggest consumer of coal power, but the largest producer too. China produced 4.7% more coal in 2021 than the previous year. Coal companies churned out more than 3.7 billion tons. The country's coal industry plans to significantly hike production this year, reports Chinese media.
Despite its efforts to reduce its dependence on coal, the Chinese are involved in building and funding more than 70% of all coal plants abroad. Since 2013, China's Belt and Road Initiative has committed to $50 billion in financing for 26.8 Gigawatts of coal facilities in 152 countries.
Chineses Banks are bankrolling 60 new coal plants across Eurasia, South America and Africa. When those projects are completed, the coal facilities would emit about as much carbon dioxide as all of Spain. Ignore Chinese propaganda; the country is exporting pollution to other nations.
Carbon Tracker, a financial think tank, calculated that China, India, Indonesia, Japan and Vietnam plan to build 600 coal power plants. India with 285 coal plants generates more than 75% of its power needs through thermal coal. India has 39 thermal coal plants under construction with plans for more.
No surprise to learn China is the world's biggest polluter. The Communist nation contributed 21.4% of the world's greenhouse gasses, according to data from the World Resources Institute. The U.S. ranks second with 12.5% of the global emissions. India and the European Union are tied at 7% each.
Weaning countries off coal is proving difficult because the demand for energy is soaring. Electricity demand is projected to triple globally by 2050, a McKinsey report estimates. Estimates are the electricity demand in the U.S. will jump 28.8% for the same period.
With rising demand, America's push for green energy has paid dividends. Wind turbines and solar accounted for about 20% of the electricity generated in 2021. Including hydroelectric dams and nuclear, the total rises to nearly 40%. But coal still produces 21% of electric power.
Germany is a cautionary tale for adopting a green policy cold turkey without regard for the long-term impact on the economy. Since 2000, the country shutdown coal plants, scuttled nuclear facilities and spent billions of dollars on renewable power, mostly wind and solar.
However, those renewables are subject to intermittent output, meaning the country needs a dependable, alternative power source. For Germany, that has been Russian natural gas. When Russia began cutting back supplies this year, Germany had no other option but to restart its coal fired plants.
Germany had planned to eliminate coal by 2030, but that target seems unachievable in light of the reactivation of coal plants. The lesson of the German experience is that the shift to renewable energy cannot happen overnight and without fossil fuel backup power, electricity rationing is a certainty.
With winter months away, officials in the country's second largest city Hamburg are warning warm water will only be available certain times of day. Across Germany, streets light are dimmed, water is rationed and swimming pools have been closed.
Most Americans are on board with replacing fossil fuel electricity with green energy. On the other hand, Americans want affordable, reliable energy. This summer major electric grids across the nation are under stress sometimes because wind and solar are offline due to weather conditions.
America's appetite for wind and solar energy is growing, which is driving down the cost of each megawatt-hour of energy, making it more competitive with fossil fuels. But for the foreseeable future, fossil fuels will be required to meet the nation's rising energy demand.
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