China, Sweden, and Australia: Balancing Green and Fossil Energy
In the first half of 2024, China took the lead in constructing new coal-fired power plants by starting facilities for a total of 41 GW of power, and planning to launch another 39 GW this year. However, building permits for power plants in the first half of this year only amounted to 9 GW of power, marking an 83% decrease compared to the first half of 2023. China is the world’s largest emitter of carbon dioxide, responsible for over a quarter of global emissions.
To achieve economic development while being environmentally friendly, Sweden serves as a great example. Since 1990, Sweden has reduced net greenhouse gas emissions by 80% while doubling its economic growth. The average emission reduction in the European Union during the same period was 30%. Despite being highly industrialized, Sweden has significantly decreased fossil fuel usage for electricity production, heavily investing in renewable energy sources.
On the other hand, the Australian government has given environmental approvals for the $19 billion Australia-Asia PowerLink solar farm. This solar farm is expected to deliver up to 6 GW of green electricity annually, mainly to Singapore. The electricity generated from Sun Cable’s 12,500-hectare project will be transmitted to Darwin through an 800-kilometer overhead transmission line and then to Asia via a 4,300-kilometer submarine cable. Despite having an economy heavily dependent on coal and gas and being one of the world’s largest per capita emitters of greenhouse gasses, Australia is taking steps towards green energy solutions.
