Coal is the energy source of choice in China, one of the fastest and
largest developing countries. China has no alternative to coal, as its
Liquefied Natural Gas (LPG) imports cost significantly more than coal,
and renewable energy sources cannot provide for its base load power.
According to the IEA, coal is set to surpass gas in South East
Asia. ASEAN nations have energy demand growing at more than twice the
global average, and will get 49% of their power from coal by 2035.
Energy consultancy firm Wood Mackenzie has predicted that coal will surpass oil as the key fuel for the global economy, by 2020.
Even with China out of the equation, most developed countries are
still dependent on coal. The United States Department of Energy
projects US coal consumption will increase by 8% from 2012 to 2040.
German utilities in 2014 have switched focus away from natural gas,
solar, and wind power to cheap coal.
Based on levelized costs, coal remains the cheapest energy source
available, until such time that renewable sources (solar, wind, hydro)
are advanced enough to be competitively priced.
[http://asmc.com.sg/industry-insights/market-trends]
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