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The 2024 government work report proposes to vigorously develop a low-carbon economy and promote the development of the waste recycling industry. As a type of renewable energy, biomass energy is essentially the energy utilization of biomass waste. The "14th Five-Year Plan for Renewable Energy Development" clearly points out that it is necessary to steadily promote the diversified development of biomass energy. The 14th Five-Year Plan for the Development of Bioeconomy issued by the National Development and Reform Commission has also identified biomass energy as one of the key development areas.
Biofuels are a form of biomass energy, specifically those liquids or gases that can be used as fuels through the conversion of biomass. Advanced biofuels refer to gaseous or liquid fuels that are converted and produced by physical, chemical, biological and other technical means using biomass resources as raw materials, mainly including bio-natural gas, biofuel ethanol, biodiesel, renewable methanol and sustainable aviation fuel. It has many characteristics and advantages such as low carbon and renewable, and can play a unique role in promoting the use of renewable energy.
A few days ago, the "China Advanced Biofuels Development Outlook" report released by the Biomass Energy Industry Branch of the China Industrial Development Promotion Association pointed out that it is expected that by 2030, China's advanced biofuel production will reach 23.98 million tons of standard coal, and the demand will reach 27.46 million tons of standard coal, achieving carbon emission reduction of more than 50 million tons. By 2050, the production of advanced biofuels will reach 340 million tons of standard coal, the demand will be 312 million tons of standard coal, and the carbon emission reduction will be nearly 640 million tons.
However, the report also points out that at present, the advanced biofuel industry in mainland China is still in the early stage of development, facing multiple problems such as insufficient public awareness of it, relevant policies still need to be improved, weak standard system, insufficient innovation ability and environmental value are not reflected.
Looking back at the development of the biomass power generation industry in mainland China:
-- The cumulative installed capacity of biomass power generation
From 2017 to 2022, the cumulative installed capacity of biomass power generation in China continued to grow, exceeding 40 million kilowatts in 2022 and reaching 41.32 million kilowatts, an increase of 8.8% from the end of 2021.
By the end of 2022, the cumulative installed capacity of waste-to-energy incineration power generation accounted for 58% of the cumulative installed capacity of biomass power generation in China's biomass power generation segment. The cumulative scale of agricultural and forestry biomass power generation accounts for 39%, and the cumulative installed capacity of biogas power generation accounts for about 3%; Waste-to-energy incineration is currently the most important form of biomass power generation in China.
- Biomass power generation
From 2017 to 2022, China's biomass power generation increased with the growth of installed capacity, with biomass power generation exceeding 100 billion kWh in 2019 and 182.4 billion kWh in 2022, an increase of 11.42% over 2021.
Du Xiangwan, academician of the Chinese Academy of Engineering, former vice president of the Chinese Academy of Engineering, deputy director of the National Energy Advisory Expert Committee and adviser to the National Climate Change Expert Committee, pointed out that the annual production of biomass resources can reach 3.5 billion tons, and its energy development potential can reach 460 million tons of standard coal. However, less than 600 million tons of standard coal are actually converted into energy, and there is still huge development potential in this field. In addition, according to the International Energy Agency (IEA), biomass energy will account for 17% of global final energy consumption by 2060.
Zhang Dayong, Deputy Secretary-General of the China Industrial Development Promotion Association and Secretary-General of the Biomass Energy Industry Branch, pointed out that China's advanced biofuel industry has great development potential under the huge development opportunities, and will still be in short supply in the short term. In the future, with technological breakthroughs and cost reductions, the production of advanced biofuels will gradually meet the market demand.
Prospective Economist APP Information Group
For more research and analysis of this industry, please refer to the "Analysis Report on the Development Prospects and Investment Strategic Planning of Global and Chinese Biomass Power Generation Industry" by Qianzhan Industry Research Institute.
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