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Professional Insights
25 Apr 2022
Dr. Kenny Siu’s Sharing on Sing Pao Column – SDG 7 Affordable and Clean Energy
The seventh goal of the United Nations Sustainable Development Goal (SDG 7) aims to ensure universal access to affordable, reliable, and modern energy services. When clean energy becomes a hot topic among the industry, fossil fuels and nuclear power are often seen as “monsters” because of the damages they caused to the environment. Though photovoltaic solar, hydroelectric and wind powers are considered low-carbon, apart from geographical constraints, their cost are not affordable for every country.
In the United States, fossil fuel contributes around 50% of the total electricity supply. Given the breakthrough in the technology of cruel oil extraction in last century, a large number of fossil fuel power plants were built as they are easily transported without geographical limitation. These facilities have been in operation for a substantial period of time and the technologies are rather mature, resulting in a more reasonable and affordable price for developing countries.
Renewable energy requires double energy storage to ensure a stable supply of electricity. When considering using clean energy, affordability and economic issue should also be taken into account.
Learn more from the full article (in Chinese only) written by Kenny Siu, Senior Advisor of AEC Group, published on Sing Pao on 25 April.
Dr. Kenny Siu’s Sharing on Sing Pao Column – SDG 7 Affordable and Clean Energy
The seventh goal of the United Nations Sustainable Development Goal (SDG 7) aims to ensure universal access to affordable, reliable, and modern energy services. When clean energy becomes a hot topic among the industry, fossil fuels and nuclear power are often seen as “monsters” because of the damages they caused to the environment. Though photovoltaic solar, hydroelectric and wind powers are considered low-carbon, apart from geographical constraints, their cost are not affordable for every country.
In the United States, fossil fuel contributes around 50% of the total electricity supply. Given the breakthrough in the technology of cruel oil extraction in last century, a large number of fossil fuel power plants were built as they are easily transported without geographical limitation. These facilities have been in operation for a substantial period of time and the technologies are rather mature, resulting in a more reasonable and affordable price for developing countries.
Renewable energy requires double energy storage to ensure a stable supply of electricity. When considering using clean energy, affordability and economic issue should also be taken into account.
Learn more from the full article (in Chinese only) written by Kenny Siu, Senior Advisor of AEC Group, published on Sing Pao on 25 April.