Renewable energy makes business sense
As Climate Week NYC prepares to get underway, JinkoSolar, a member of RE100 from China, shares its vision of a clean, solar-powered future.
The largest global economies are responsible for three quarters of the world’s greenhouse gas emissions. Yet they are also aware that it is down to them, to save the planet from the effects of global warming.
This commitment to climate change has not always been the case. In the past, there were few alternative methods to replace the burning of fossil fuels. Consequently, our economies grew within this unsustainable model.
For decades we’ve been told that it doesn’t make business sense to switch to renewable energy, because it was too expensive. But that’s no longer true.
Last month, a 25-year power purchase agreement (PPA) for a renewable energy project located in Al Dhafra, Abu Dhabi, set a record low price of US$1.35 cents/kilowatt-hour (kWh). The plant has a total capacity of 2 gigawatts (GW) and is expected to power approximately 160,000 households across the United Arab Emirates.
Once operational, the Al Dhafra Solar project will lift Abu Dhabi’s total solar power generation capacity to approximately 3.2 GW. This will reduce the Emirates’ carbon emissions by more than 3.6 million metric tons per year — equal to removing around 720,000 cars from the road.
This big achievement demonstrates that renewable energy is heading towards grid parity, and when its price reaches close to zero, there’ll be no more excuses for governments. They’ll have to acknowledge that change is not just possible, but is already happening.
The Paris Agreement laid out essential goals, but promises need to be followed by actions. And the implementation of the Paris Agreement largely depends on the engagement of the business community.
Renewable energy companies like JinkoSolar should lead the shift to a low carbon economy. Providing sustainable and effective solutions such as the Al Dhafra project, JinkoSolar can convince more businesses to take action and start the low-carbon transition.
That’s why in 2019 JinkoSolar joined the Climate Group’s RE100 and EP100 initiatives, which bring together the world’s most influential companies committed to 100% renewable electricity and smarter energy use. Solar energy is an affordable and sustainable way to achieve this transition, and we will demonstrate this by using solar to power our own operations.
Dany Qian Speaking at The Rise of Renewable Energy, Climate Week NYC 2019
To show how we plan to fulfill this ambitious commitment, we’ve released a roadmap that depicts a series of innovative actions to lower emissions caused by our operations. This includes:
- Building new factories in or adjacent to renewable-rich regions to facilitate green electricity sources
- Focusing on R&D and the commercialisation of higher power and efficient solar products to reduce power consumption per watt
- Optimising processes to save energy. This would reduce electricity consumed for water production, for instance
- Adopting an integrated and sustainable view of the product lifecycle, from ideation to commercialisation. This involves increasing the use of recycled materials and innovating in product recycling
- Embedding principles of sustainability in our supply chain and using them to guide decisions, ranging from product design and factory floor configuration, to sourcing and logistics
- Investing more in onsite solar and solar-plus-storage projects by deploying panels on all suitable rooftops of our global manufacturing facilities, workshops, warehouses, and new and existing office buildings. This will ensure that 50% of consumed solar electricity comes from projects that JinkoSolar built
- Encouraging and rewarding suppliers if they use renewable energy for JinkoSolar orders.
As one of the leading companies in the renewable energy industry, we are committed not only to reaching our goal and achieving a just transition within 2025, but also to boosting the improvement of PV technology.
We want to prove the enormous potential of solar and show the great results that have already been achieved in the sector, and are excited to showcase our work at this year’s Climate Week NYC.
As the Climate Group’s Head of RE100, Sam Kimmins, said, “Switching to renewable electricity is no longer just the right thing to do; investing in renewable also makes business sense.”