Renewable Energy | WWF Hong Kong


 
	© Global Warming Images / WWF

Renewable Energy

In order to keep the global temperature increase below 2°C, one of the main talking points of the Paris Agreement was the fact that fossil fuels must eventually be phased out. The development of renewable energy is one of the most important keys, if not the most important key, to tackling climate change.

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

To address Hong Kong’s global responsibilities and cut our carbon emissions by 2020, the Hong Kong government plans to increase the use of natural gas in our fuel generation mix. Unfortunately, this will not be enough to prevent climate warming. WWF believes that the only viable solution is to develop a policy roadmap for the development of renewable energy here in Hong Kong.  

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.

How does the feed-in tariff encourage investment?

By 2050, the urban share of the global GDP will be about 85 per cent. The world’s cities will have enough people and resources to change the future of energy. WWF is working with the local community to drive the development of renewable energy forward. We firmlybelieve that by working together, we can make renewable energy possible.
 
	© WWF-Hong Kong
How does the feed-in tariff encourage investment?
© WWF-Hong Kong