The electricity generation-related carbon emissions from urban areas is estimated to contribute to as much as 70 per cent of total carbon emissions in Hong Kong. As one of the world’s leading cities, Hong Kong is obliged to pursue robust efforts to develop renewable energy, make our fuel mix sustainable and reduce our carbon emissions as much as possible.
Renewable energy is sustainable energy which comes from nature such as the sun, the wind and the ocean. Renewable energy technologies are rapidly becoming more mature – according to International Renewable Energy Agency, renewable energy generation in Asia took up 42% of global share by 2017, a growth of 13.1%. This is encouraging, as renewable energy capacity is growing at a much faster rate than fossil fuels.
Introduction to renewable energy
The development of renewable energy should begin with a feed-in tariff, a mechanism whereby individuals and businesses that generate renewable energy can feed the power they generate into the electricity grid and receive payment for it.
On 25 April 2017, the government and the power companies signed new Scheme of Control Agreements, which propose the introduction of the Feed-in Tariff and Renewable Energy Certificates. WWF-Hong Kong welcomes the government’s adoption of our recommendations by setting the initial Feed-in tariff rate at an attractive level of HK$3-HK$5/kWh for solar and wind systems with a guaranteed rebate period of 15 years.
While fossil fuels still dominate our energy market, WWF believes that by 2050, it will be possible for Hong Kong to obtain 85 per cent of its energy from renewable sources.