The development of renewable energy brings sustained momentum to the copper industry

Update：3/16/2025 2:43:19 PM

China's renewable energy development momentum is strong

On August 21-23, the 2018 China Renewable Energy Academic Conference, hosted by the China Renewable Energy Society and supported by organizations such as the International Copper Industry Association, was held in Beijing. Over a thousand representatives from academia, enterprises, associations, and governments participated in the event and discussed the future development and innovation directions of the renewable energy industry. Du Xiangwan, academician of the CAE Member, said at the meeting that renewable energy will become the leading energy in the future world. By 2050, China's renewable energy is expected to account for more than 50% of the total primary energy consumption, and the proportion of non fossil electricity in electricity is expected to reach about 78%.

In recent years, China's renewable energy production and consumption capacity has continued to upgrade. With the continuous expansion of renewable energy generation in China, non fossil energy sources such as hydropower, nuclear power, wind power, and solar power accounted for 25.2% of the total electricity generation in the first half of this year. A green and diversified energy supply system is rapidly being established in China. Meanwhile, according to the BP World Energy Statistical Yearbook, China accounted for 36% of the global growth in renewable energy consumption in 2017, becoming the largest driving force behind global renewable energy consumption.

Meanwhile, according to the Anyong Renewable Energy National Attractiveness Index, China has maintained its position as the most attractive country for investment in the global renewable energy sector since 2015. At the beginning of 2017, the National Energy Administration of China released the "Thirteenth Five Year Plan for the Development of Renewable Energy", announcing an additional investment of 2.5 trillion yuan in the field of renewable energy during the "Thirteenth Five Year Plan" period.

The use of renewable energy brings new opportunities to the copper industry

Copper has conductivity second only to silver, which can effectively improve the efficiency of electrical equipment and is an essential material for the development of renewable energy. It is widely used in renewable energy generation systems such as solar, wind, and hydro power to promote maximum power generation and transportation, thereby reducing the impact on the environment.

According to research data from the International Copper Association, the average copper consumption in renewable energy systems is 8-12 times higher than that in traditional power generation systems, with wind turbines using 2.5-6 tons of copper per megawatt and solar photovoltaic power using 4 tons of copper per megawatt. According to China's target of 105000 kilowatts of photovoltaic power generation in 2020, approximately 420000 tons of copper will be required. Research also shows that for every ton of copper used in renewable energy generation equipment, carbon emissions can be reduced by 100-7500 tons, and due to the high energy efficiency brought by copper, users can save between $25000 and $2.5 million (approximately RMB 170000 to RMB 172.5 million) during the use of the equipment.

It is worth mentioning that in addition to the most well-known renewable energy systems such as solar, wind, and hydro, some emerging renewable energy applications, such as air source heat pump equipment, also require a large amount of copper. Air source heat pumps are more energy-efficient compared to general heat source equipment, consuming 1 kWh of electricity can generate 3-4 kWh of heat. Therefore, air source heat pumps are becoming an important tool for the "coal to clean energy" revolution in northern China. For example, in 2017, Beijing used air source heat pumps to replace 906000 tons of bituminous coal. A typical air source heat pump heating system requires approximately 20kg of copper, and the accompanying outdoor evaporator, indoor condenser, and power grid also require copper as a raw material.