The power industry the driving force of modern society

The power industry: the driving force of modern society

The power industry is the cornerstone of modern industrial civilization and the core driving force supporting economic and social development. Since the commercialization of electricity in the late 19th century, electricity has completely changed the way humans produce and live due to its clean, efficient, and convenient characteristics.

Currently, the global power industry is undergoing profound changes. The cost of renewable energy generation continues to decline, and in 2020, renewable energy accounted for 82% of the world's newly installed power generation capacity. The deep application of digital technology is driving the rapid development of smart grids, and the power system is transforming towards a clean, low-carbon, safe, and efficient direction. As the world's largest producer and consumer of electricity, China's power generation reached 8.1 trillion kilowatt hours in 2021, and its technologies such as ultra-high voltage transmission and new energy consumption are at the forefront of the world.

The future of the power industry is full of opportunities and challenges. With the advancement of the 'dual carbon' goal, building a new type of power system with new energy as the main body has become an inevitable choice. It is expected that by 2060, the proportion of non fossil energy consumption in China will reach over 80%, and the proportion of electricity in terminal energy consumption will exceed 70%. This requires the power industry to accelerate technological innovation, promote the integrated development of source grid load storage, and build a more flexible and intelligent power system.

The development of the power industry is related to the national economy and people's livelihood, serving as both an engine of economic growth and a symbol of social progress. Driven by both the energy revolution and the digital revolution, the power industry is bound to usher in a broader development space, providing lasting impetus for the progress of human civilization.